By Paul Spirgel — Feb 24 - 01:00 PM
Sterling soft into NY cls, -0.52% at 1.1952; NorAm range 1.1987-28
Pair added to weakness after U.S. PCE/consumption data rise, rates rise
Sterling tests 100-DMA support after hot US PCE, consumption data
UST yields rise across curve; Dec cut odds dip -8bp from Sept high 3.405%
100-DMA (1.1942) bruised but holding, cls below eyes 1.1842 Jan 6's 2023 low
Res at 1.1977 10-HMA, 1.2042 Friday high, 1.2123 21-DMA, 1.2147 Feb 21 high
Bulls need a rise above the daily cloud (1.2200) to stem bearish tide
EUR/GBP +0.12% at 0.8829, Fri range 0.8835-0.8789; moves USD/US-rate based
Source:
Refinitiv IFR Research/Market Commentary