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Apr 01 - 03:55 PM

GBP/USD - Slips After US Jobs Data Underscores Diverging Fed-BoE Rate View

By Paul Spirgel  —  Apr 01 - 01:50 PM
  • Sterling soft into NY close, -0.37% to 1.3096; NorAm range 1.3145-1.3087

  • Diverging Fed-BoE rate view in focus after upbeat NFP data nL2N2VY37F

  • Sterling supported sub-1.31 after cheery US payrolls data nL2N2VZ1MA

  • Bulls remain wary of 10-DMA res by 1.3157, GBP/JPY bid likely props up GBP

  • Supt at Mar 29 low 1.3052, 2022 low 1.30; below eyes early Nov 21 low 1.2845

  • Bulls need a rise abv 1.3228's 30-DMA to stem bearish tide

  • EUR/GBP +0.1% to 0.8427, Fri range 0.8440-11; EZ-UK rate convergence favors EUR strength

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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