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Apr 30 - 09:55 PM

GBP/USD - Capped By Rising Yield Spreads And Resilient US Data

By Andrew M Spencer  —  Apr 30 - 08:10 PM
  • -0.05% - closed -0.55% with the USD +0.6% as inflation pushed up UST yields

  • Yield spreads widened, 10yr gilt +6bp to 4.352%, 10yr UST +7bp to 4.684%

  • UK inflationary pressures are easing as UST yields rise - likely caps GBP

  • Expecting a low-key Asian session - only Tokyo, Sydney and Wellington open

  • Charts; 5, 10 & 21 DMAs conflict, 21-day Bollinger bands edge lower

  • Daily momentum studies rise - the daily signals show no strong bias

  • Monday's 1.2569 high then 1.2596, 50% of the March/April fall are resistance

  • Friday's 1.2448 low and the 1.2299 April low are initial supports

    For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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