By Paul Spirgel — Aug 22 - 01:40 PM
GBP$ -0.07% at 1.3083 in NY afternoon trading; NorAm range 1.3130-1.3081
Pair drifted to 2024 high 1.3130 after UK flash PMIs beat sank BoE cut odds
Sterling hits 2024 high after upbeat flash PMIs nL1N3K90M5
UST yields rising, Fed cut view tempers ahead of Powell comments Friday
Recent longs taking profit, prudently, ahead of Friday's J-Hole speakers
LSEG's IRPR pricing 24% odds for -50bp in Sept; -96bp into YE 2024
BoE priced 28% odds for -25bp in Sept; further 40bp of cuts by yearend
GBP$ res at 1.3130 Thursday 2024 high, 1.3181 Mar 28 2022 high
Supt 1.3081 Thurs low, 1.3058 the 55-HMA, 1.3020 23.6% Fib of 1.2666-1.3130
Source:
Refinitiv IFR Research/Market Commentary