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Aug 10 - 01:55 PM

GBP/USD's Post-CPI, Claims Rise Reversed As UK Rates Drift Lower

By Paul Spirgel  —  Aug 10 - 01:25 PM
  • GBP$ soft into NY close, ending NY flat at 1.2715; NorAm range 1.2818-1.2707

  • Post-CPI, claims rise to 1.2818 quickly dialed back, traders await more data

  • Focus shifts to UK inflation data Aug 16, for hints at BoE policy path

  • UK Sonia futures higher, as lean on softer UK inflation, lwr BoE rate path

  • Sterling remains firm after data hints at less-hawkish Fed path nL1N39R1P0

  • Bulls turn tail ahead of minor Fib at 1.2880; Thurs inverted hammer bearish

  • Support tested at 55-DMA by 1.2728, close below puts Wed low 1.2685 in view

  • More firm support at daily cloud top 1.2679, Aug 3 trend low 1.2620

Refinitiv IFR Research/Market Commentary


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