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May 11 - 06:55 AM

GBP/USD - Rises Towards 1.24 Ahead Of U.S. Inflation Data

By Rob Howard  —  May 11 - 05:20 AM
  • Cable rises to 1.2390 ahead of U.S. April inflation data at 1230 GMT

  • 1.2390 = two-day high (1.2405 was Monday's high, after drop to 1.2262)

  • U.S. CPI f/c +8.1% YY, core CPI f/c +6% YY nL2N2X212EnL2N2X11XQ

  • Scope for GBP/USD gains towards 1.25 on position adjustments if CPI sub-f/c

  • Net GBP short held by IMM specs up for 9 weeks in row (pre-BoE) nL2N2X10IH

  • UK rejects EU proposals to resolve Northern Irish trade row nL5N2X32GN

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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