By Paul Spirgel — Jan 12 - 01:35 PM
GBP$ firm into NorAm close, +0.6% at 1.2222; Thursday range 1.2248-1.2089
Significant yaw after as-f/c US CPI, pair does a few laps b/w 1.2240-1.2100
Rally on US inflation leaves sterling focused on UK CPI nL1N33X1C5
CPI data promotes narrative of lower Fed hikes, brings fwd pot'l rate cuts
US yields whipsaw ending NorAm by lows, Fed term rate slips to 4.9% by Jun
GBP$ supt at 10/21-DMAs by 1.2090, 200-DMA by 1.2002, daily cloud top 1.1935
Res at Thurs high 1.2248, 1.2367 55-DMA, 1.2446 Dec 14's recent trend high
EUR/GBP +0.24 to 0.8871, Thurs range 0.8895--37; moves Thurs USD based
EUR better bid on recent ECB hawkish musings
Source:
Refinitiv IFR Research/Market Commentary