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May 23 - 04:55 AM

GBP/USD - On 1.27 Handle Pre-PMIs; Six Weeks Before UK Votes

By Rob Howard  —  May 23 - 02:40 AM
  • Cable remains above 1.2700 before UK May PMIs at 0830 GMT; services f/c 54.7

  • 1.2701-1.2761 was Wednesday range; high followed hotter than expected UK CPI

  • 7th consecutive BoE rate hold expected June 20, two weeks before UK election

  • Sunak and Starmer to hit campaign trail as election race begins nL1N3HP2XN

  • Anglo rejects BHP's third takeover offer; May 29 is deadline for another bid

  • US Biden administration says it supports an independent Fed nL1N3HO0KX

Source:
Refinitiv IFR Research/Market Commentary

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