• -0.05 after closing down 0.45% with the USD up 0.5% on Trump tariff threats
• UK's Fin Min Reeves gears up for a fight to get the economy growing again
• Reeve to change the narrative from prior gov't errors to an upbeat outlook
• Bank of England launched a tool to calm gilt market in times of distress
• Charts - daily momentum studies rise, 21-day Bollinger bands contract
• 5 & 10-DMAs rise, weeklies remain bearish - positive short-term bias
• Monday's 1.2426 low, then 1.2360 21-day moving average are initial supports
• Targets a test of the 1.2575 Jan 7 high, and then the 1.2616 2025 top
• Close below the 1.2360 21-DMA and the 1.2343 5-DMA to end the topside bias
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)