By Paul Spirgel — Dec 18 - 02:45 PM
GBP$ soft post-Fed cut -0.53% at 1.2643, Wednesday range 1.2730-1.2627
Fed hawkish 25bp cut lifts USD, GBP traders now focus on BoE Thurs
Fed cuts rates but sees slower pace of further reductions, firmer inflation
BoE may hold more sway for sterling than the Fed nL1N3NJ0IR
BoE exp'd to hold rate after recent data hints at persistent inflation
IRPR indicates UK rates landing at 4.24%, Fed rates 4.13% by YE 2025 IRPR
Higher CPI, large dip in CBI (Mfg output) makes for difficult BoE decision
GBP$ supt 1.2627 the post-Fed low, 1.2608 The Dec 13 low, 1.2512 Nov 26 low
Res 1.2700 post-Fed high, 1.2730 Wednesday high, 1.2811 the 200-DMA
Source:
London Stock Exchange Group | Thomson Reuters