By Paul Spirgel — Sep 06 - 01:35 PM
GBP$ soft into NY close -0.5% at 1.2505; NorAm range 1.2567-1.2484
Pair on backfoot after less-hawkish Bailey, Cunliffe, Dhingra comments
Sterling dominance falters on questions about UK rate trajectory
Higher UST yields add to USD allure; BoE +25bp on Sep 21 now 80% on IRPR
GBP$ supt 1.2484 Wed low, 1.2479 23.6% Fib of 1.0327-1.3144, 1.2425 200-DMA
Below 200-DMA bears target May 2023 lows just above 1.23
Dovish BoE shift puts March 8 2023 low by 1.1805 in focus
Res fmr supt at lwr 30d Bolli 1.2540. Wed high 1.2587, falling 10-DMA 1.2610
EUR/GBP +0.46% at 0.8576, Wed range 0.8577-30; less hawkish BoE view weighs on GBP
Source:
Refinitiv IFR Research/Market Commentary