By Paul Spirgel — Jan 17 - 01:31 PM
• GBP$ soft in NorAm afternoon, -0.53% at 1.2174; Friday range 1.2245-1.2161
• BoE cut view boosted after UK retail sales downside miss; gilt yields slip
• Pair subject to notable yaw last 3-days, a few laps taken b/w 1.2265-1.2140
• Cheering the UK budget, selling sterling
• Recent sub-f/c UK data increasing BoE cut view for 2025 a weight on GBP/USD
• Of note, Sterling did a quick run higher on Trump-Xi talk report
• Concerns on fiscal uncertainties ebbing, focus now on BoE policy path
• Res 1.2260 the Jan 16 high, 1.2295 falling 10-DMA, 1.2307 Jan 15 high
• Supt 1.2140 Jan 14 low/lower 21-d Bolli, 1.21 2025 low put in Jan 13
GBP Chart:
(Paul Spirgel is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters