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May 28 - 07:55 AM

GBP/USD - Holds Near 1.42 Before Key U.S. Inflation Measure

By Rob Howard  —  May 28 - 06:23 AM
  • Cable has traded a 30 pip range since the London open, 1.4175-1.4205

  • The base of that range is a former resistance level (Wednesday's high)

  • 1.4220 was Thursday's top, after GBP jumped on Vlieghe's BoE rate hike steer

  • See: nL2N2NF0CP. Month-end USD demand talk is lending support to greenback

  • Fed's preferred inflation gauge due 1230GMT, jump to 2.9% f/c nL2N2NE0O2

  • BoE's Haldane sees faint echo of 1970s in inflation spiral risk nL5N2NF249

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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