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Thomson Reuters
Feb 13 - 05:00 AM
GBP/USD - Could Vault 1.3879 If UK CPI Above Forecast
First appeared on eFXplus on Feb 13 - 02:45 AM
  • Scope for knee-jerk GBP gains if UK Jan CPI inflation above f/c at 0930GMT
  • 2.9% expected vs 3.0% in Dec and near six-year high of 3.1% in Nov
  • Above f/c CPI would be fresh boost for hawks advocating BoE rate hike in May
  • Offers ahead of 1.3879 kept lid on GBP/USD Monday, before drop to 1.3798
  • 1.3879 = 38.2% of 1.4067 (Feb 8 high on hawkish BoE) to 1.3764 (Feb 9 low)
  • 1.3876 = 30DMA. 1.3870/75 option expiries for NY cut, GBP 220mn strikes

UK inflation data: Click here

Source:
Thomson Reuters IFR Markets
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