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Feb 23 - 04:55 PM

GBP/USD - Shrugs Off Hawkish Mann Comments, Slides On Higher Fed Rate Path

By Paul Spirgel  —  Feb 23 - 01:10 PM
  • GBP$ slides into NorAm close, -0.38% at 1.1993; Thurs range 1.2075-1.1992

  • USD catches late bid after Core PCE Q4 revised higher job mkt tight

  • Fri's JP CPI, U.S. core PCE release in focus for hints at JP-US rate path

  • Sterling boosted off low after Mann downplays BoE rate pivot nL1N3531DQ

  • Support holding at Tues low 1.1990 just below Thurs low 1.1993

  • 100-DMA at 1.1933 in focus as GBP$ consolidates below the 10-DMA at 1.2063

  • Fed rate view dominates; IRPR/Eikon sees Fed +78bp by Jul, BoE +68bp by Aug

  • EUR/GBP +0.2% at 0.8822, Thurs range 0.8824-0.8795; ECB seen +132bp by Sep

Source:
Refinitiv IFR Research/Market Commentary

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