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Jun 03 - 03:55 PM

GBP/USD - Bulls Charge Higher After Soft US ISM Mfg Data Sinks UST Yields

By Paul Spirgel  —  Jun 03 - 01:35 PM
  • GBP$ +0.27% to 1.2780 in NorAm afternoon trade; Monday range 1.2794-1.2694

  • Soft U.S. ISM Mfg data hints at falling inflation, UST yields slide

  • Sterling anchored by its 10-DMA awaiting inflation, rates clues nL1N3I11CZ

  • UK ret sales late-Mon, JOLTS Tues in focus, ahead of Friday's payroll data

  • Res 1.2803 Mar 21 high, 1.2828 upper 30-d Bolli, 2024 high Mar 8 at 1.2894

  • Supt 1.2745 10-HMA, 1.2694 Monday low, 1.2661 21-DMA

  • Slightly more dovish BoE 2024 rate expectation mat temper GBP gains IRPR

Source:
Refinitiv IFR Research/Market Commentary

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