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Jan 26 - 07:55 AM

GBP/USD - Reclaims 1.27 Handle Before US Core PCE Data

By Rob Howard  —  Jan 26 - 05:55 AM
  • GBP/USD eyes 1.2742 (Thursday's high) after extending north from 1.2677

  • 1.2677 was three-day low in early London trade, as EUR/USD slid towards 1.08

  • Ensuing half-cent EUR/USD rally aided by profit-taking on short positions

  • Cable and EUR/USD gains precede US Dec core PCE data at 1330 GMT; 3% YY f/c

  • Softer than expected US core PCE might further inflate GBP/USD towards 1.28

  • Fed event risk next Wednesday (Jan 31). BoE event risk next Thursday (Feb 1)

Source:
Refinitiv IFR Research/Market Commentary

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