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May 31 - 03:55 PM

GBP/USD's Post-PCE Rise Pared As Bulls Await More Inflation, Policy Clarity

By Paul Spirgel  —  May 31 - 01:35 PM
  • GBP$ hovered near flat at 1.2730 in NY afternoon; Friday range 1.2766-1.2701

  • Pair rallied to session high after below-f/c m/m core PCE price index data

  • Initial dovish lean, lwr UST yields unwound as Fed Sept/Nov cut view intact

  • What will it take for sterling to scale new peaks? nL1N3HY1J3

  • Traders await data for policy clarity; US/UK PMIs and US payrolls in focus

  • Res 1.2766 Friday post-data high, 1.2801 May 28 high, 1.2823 upper 30d Bolli

  • Support 1.2718 Fri's post-data low, 1.2700 Friday low, 1.2680 May 30 low

Source:
Refinitiv IFR Research/Market Commentary

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