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Mar 20 - 01:55 PM

GBP/USD - Holds Within Tuesday's Range Pre-Fed Event Risk

By Rob Howard  —  Mar 20 - 10:25 AM
  • Cable has traded a 44 pip range since the London open; 1.2685-1.2729

  • Those parameters are within Tuesday's 1.2668-1.2733 range

  • Fed dot plot news due at 1800 GMT; Powell briefing starts at 1830 GMT

  • GBP/USD might weaken on hawkish dot plot shift (3 cuts in 2024 to 2?)

  • Bear targets include 1.2600 (March 1 low). BoE MPA Thursday at 1200 GMT

  • Easing UK inflation keeps BoE on track for rate cuts nL2N3FY0UP

Source:
Refinitiv IFR Research/Market Commentary

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