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Aug 14 - 01:55 PM

GBP/USD - Slide Stalls Near 100-DMA As Traders Await UK Employment, CPI Data

By Paul Spirgel  —  Aug 14 - 01:15 PM
  • GBP$ firm into NorAm close, +0.02% at 1.2695; Monday range 1.2711-1.2617

  • Sterling eyes August low amid rising US yields, pre-UK jobs, CPI data

  • Pair bounced ahead of 100-DMA support by 1.2613 in early NorAm

  • Tuesday UK employment, wages in focus; Rtrs f/c rise in June wages

  • Wednesday UK CPI seen falling to 6.8% from 7.9%, still well above 2% target

  • Rising wages, persistent inflation to keep BoE in hike mode into YE 2023

  • IRPR on Eikon currently pricing BoE +50bp into YE, Fed seen steady

  • Supt 100-DMA 1.2613, lower 30-d Bolli 1.2586 close below puts 200-DMA 1.2357 in focus

Source:
Refinitiv IFR Research/Market Commentary

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