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Aug 14 - 05:00 AM
GBP/USD - Respects Asia Range Ahead Of UK Inflation Data
First appeared on eFXplus on Aug 14 - 03:35 AM
  • Cable is respecting its 1.2045-1.2065 Asia range pre-UK CPI data at 0830GMT
  • July CPI f/c +1.9% YY vs +2.0% YY in June. 2.0% is the BoE's target level
  • Sub-forecast CPI would be a boost for doves advocating a BoE rate cut
  • It could also depress GBP/USD towards 1.2000 (option barrier level) again
  • 1.2015 was Monday's 31-month low, before a recovery rally to 1.2106
  • See: . 1.2042-1.2097 was Tuesday's range (low pre-UK jobs data)

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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