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Oct 24 - 05:55 AM

GBP/USD - Buoyed By Higher Gilt Yields On Cautious Bailey

By Rob Howard  —  Oct 24 - 03:45 AM
  • Cable rise to 1.2965 influenced by higher gilt yields on cautious Bailey

  • 1.2965 is highest level since Wednesday's nine-and-a-half week low of 1.2908

  • Offers may emerge pre-1.30 if ascent extends (1.2995 was Wednesday's high)

  • UK Oct flash PMIs due at 0830 GMT: services PMI f/c 52.4; mfg PMI f/c 51.4

  • PMI beats would be blow for doves advocating BoE cut in Dec as well as Nov

  • BoE chief Bailey is due to give lecture at CFTC in Washington DC at 1945 GMT

Source:
Refinitiv IFR Research/Market Commentary

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