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May 10 - 01:55 PM

GBP/USD - Eyes Monday's 2022 Low, Recent Bid Abates Ahead Of US CPI Wednesday

By Paul Spirgel  —  May 10 - 01:30 PM
  • GBP/USD dips into NY close -0.16% at 1.2305; NorAm range 1.2356-1.2292

  • Liquidity slight pre-Wednesday's US CPI release, Rtrs f/c 8.1% vs 8.5% pvs

  • Pair shrugs off lower UST yields, YC bull flattening; Brexit issues weigh

  • Sterling under post-Brexit pressure, risks return to lows nL2N2X21G4

  • GBP$ supt 1.2262 Mon low, 1.2240 lwr 30-d Bolli, 1.2166 May 29 2020 wkly low

  • EUR/GBP -0.12% to 0.8556, Tues range 0.8576-36; EUR longs lighten pre-CPI Wednesday

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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