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Apr 13 - 03:55 PM

GBP/USD - 2022'S Slide Reverses Further As Fed Rates Seen Below BoEs By November

By Content Admin  —  Apr 13 - 01:50 PM

  • Sterling made new a 10-mo high of 1.2537 after US PPI & claims data

  • Treasury yields initial slid on the slightly disinflationary data

  • Sterling came off its peak as Tsy ylds bounced & BoE's Pill frowned

  • BoE Chief Economist Huw Pill a bit disappointed by Thur's UK GDP

  • Output seen restrained by worker strikes, but better than BoE's Q4 f/c

  • Sterling pullback was also a pre-London close position squaring

  • Market is pricing in Fed funds rate falling below BoE bank rate by Nov

  • Long-term charts suggest scope up the 1.2900 vicinity

  • Particularly on a weekly close above 61.8% of 2022's dive at 1.2442

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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