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May 30 - 05:55 PM

GBP/USD - Perks Up After GBP Data Hints At Slowing US Economy

By Paul Spirgel  —  May 30 - 01:45 PM
  • GBP$ firm into NY close, +0.33% at 1.2743; Thurs range 1.2747-1.2681

  • Weak U.S. Q1 GDP 2nd est, PCE data sinks yields across the curve

  • Traders curate positions pre-U.S. core PCE price IDX, EZ HICP Friday

  • Sterling gain after US GDP tempered ahead of Friday's PCE price data

  • IRPR shows BoE cut odds 48% in June, 100% in Nov; Fed 56% odds for Sept

  • GBP$ res at 1.2772 Wed high, 1.2803 Mar 21 high, 1.2822 upper 30-d Bolli

  • Supt 1.2714 30-HMA, 1.2680 Thursday low, 1.2634 100-DMA

Source:
Refinitiv IFR Research/Market Commentary

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