By Paul Spirgel — Jul 28 - 01:35 PM
GBP$ firm into NY close +0.6% at 1.2865, Friday range 1.2888-1.2767
Pair bounced off o/n Asia low 1.2767, gained momentum after US data
US core PCE and UMich hint inflation may ebb further, Fed hike cycle ending
U.S. yields lower across the curve as traders digest data ahead of Sep FOMC
Sterling regains some rates mojo as BoE looms nL1N39E1I6
BoE on Aug 3 in focus after Fed, ECB dovish 25bp hikes
Supt at 1.2854's 10-HMA, 1.2767 Friday low, 1.2725 10-Week MA
Res 1.2888 Friday high, 1.2909 10-DMA, 1.2995 Jul 27 high
EUR/GBP ending NY -0.15% at 0.8566, Fri range 0.8588-50; higher BoE rate path supports GBP gains
Source:
Refinitiv IFR Research/Market Commentary