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May 15 - 03:55 AM

GBP/USD - Rises To 1.26 On Global Stock Gains Pre-US CPI

By Rob Howard  —  May 15 - 02:40 AM
  • Cable climbs to 1.2600, as global equity gains lift risk-sensitive pound

  • 1.2600 is highest level since May 3 (1.2634 was high that day, on NFP miss)

  • US April CPI data due 1230 GMT; 0.4%, 3.4% YY f/c. Core f/c 0.3% MM, 3.6% YY

  • Cooler than expected US CPI data might spur further GBP/USD gains

  • 1.2568 (Monday's high) is now a support point. 1.2510 was Tuesday's low

  • May 22 is deadline for BHP to raise its $43 bln offer for Ldn-listed Anglo

Source:
Refinitiv IFR Research/Market Commentary

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