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Jan 13 - 04:55 AM

GBP/USD - Hugs 1.22 After Unexpectedly Positive UK Nov GDP

By Rob Howard  —  Jan 13 - 02:55 AM
  • Cable rises to 1.2210 following unexpectedly positive UK November GDP print

  • Up 0.1% vs -0.2% f/c. 1.2210 is high since 1.2177 Asia low (pre-UK GDP data)

  • 1.2177 is low water-mark since Thursday's four-week peak of 1.2247

  • Thursday peak scaled after dovish shift in Fed expectations on U.S. CPI data

  • See: nL1N33X16MnL1N33X1UYnL1N33X2ZX. 1.2089 was Thursday's low

  • UK Dec inflation data due next week (Jan 18). UK CPI was 10.7% YY in Nov

Source:
Refinitiv IFR Research/Market Commentary

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