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May 16 - 03:55 AM

GBP/USD - Awaits US Jobless Claims Data After Rise To 1.27

By Rob Howard  —  May 16 - 02:50 AM
  • Cable met headwind at 1.2700 in Asia after extending north from 1.2520

  • 1.2700 is high since April 10. 1.2520 was low following US PPI data Tuesday

  • Rise to 1.27 aided by equity gains on softer US data (GBP is risk-sensitive)

  • Scope for 1.27 break if US jobless claims above 220k forecast at 1230 GMT

  • 1.2671 (initial high on US retail sales miss) is now a support point

  • MPC hawk Greene to speak at 1100 GMT. Greene opposed to summer BoE rate cut

Source:
Refinitiv IFR Research/Market Commentary

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