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Jun 16 - 03:55 PM

GBP/USD - Upbeat Fed Projections Trump UK CPI Rise, Sterling Eyes Support By 1.40

By Paul Spirgel  —  Jun 16 - 02:17 PM
  • GBP/USD ending NorAm soft -0.3% at1.4045; NorAm range 1.4132-1.4035

  • Fed holds rate, projects rate hikes in 2023 on upbeat health, growth view

  • Fed econ f/c nS0N2NL04I; Fed lifts IOER 5bps, & o/n rev repo rate by 5bps

  • UK inflation above 2% target, raises hopes for early BoE taper, rate rise

  • GBP flirts with 10-DMA resistance after UK CPI rises above 2% nL2N2NY1BR

  • Supt builds in low 1.40's- Tues low 1.4035, May 13 low 1.4008, 55-DMa 1.4001

  • Res by 30-/10-DMAs 1.4125/27, Jun 3's 1.4202 & Jun 1's, 2021, high 1.4250

  • EUR/GBP -0.23% at 0.8591, Wed range 0.8612-0.8581; UK CPI rise lifts GBP

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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