By Paul Spirgel — Aug 25 - 01:35 PM
GBP$ ending Noram -0.15% at 1.2580; NorAm range 1.2655-1.2548
Early rise to session high as Fed's Powell spoke at J-hole reversed
Powell notes inflation too high, long way to go fighting inflation
Sterling hits 2-1/2-month low as Powell maintains inflation vigilance
U.S. rates move higher converge w/UK rates; 2024 cuts pushed back to H2
Support at bruised lwr 30-d Bolli 1.2561, Friday low 1.2548, 30-WMA 1.2476
Res 100-DMA 1.2640, Friday high 1.2655, falling 10-DMA 1.2701
Friday slide may be short-lived as Persistently high UK inflation to keep BoE hiking
Source:
Refinitiv IFR Research/Market Commentary