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Apr 11 - 01:55 PM

GBP/USD - Close Above Key Resistance Proves Elusive Ahead Of US CPI, UK GDP

By Content Admin  —  Apr 11 - 01:00 PM

  • Sterling shed much of its early gains amid a broader dollar bounce

  • Falling gilts-Tsy yields spreads took it from Tues's 1.2456 high

  • Pair needs a weekly close above 1.2450 to bolster May's brief breakout

  • Decent bounce off Monday's risk-off dip to recent up TL prop at 1.2346

  • That TL will rise to 1.2372 on Wednesday as US CPI data gets digested

  • Fed VC Williams says one more hike a "reasonable starting point"

  • Fed hikes increasingly data dependent, as IMF warns on perilous risks

  • GBP/USD propped by Fed being much closer to its inflation goal than BoE

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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