• GBP$ soft in NY afternoon trading, -0.9% at 1.3400; NorAm range 1.3518-1.3399

• Labour party resignations fomenting political unrest as Starmer tenure tenuous

• Mideast tension, high oil, inflation/growth function add to UK fiscal concerns

• Today's UK gilt price action hints at diminishing fiscal angst, long yields remain elevated

• UK CPI/RPI/PPI next week may be seminal moment as inflation likely ticked higher

• GBP$ supt 1.3399 Thurs low, 1.3383 daily low April 13, 1.3322 daily cloud base

• Res 1.3483 100-DMA (fmr supt), 1.3536 Thursday high, 1.3553 falling 10-DMA

Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)