By Rob Howard — Nov 03 - 10:40 AM
Cable scaled new six-week peak of 1.2350 on US Oct ISM services index miss
51.8 vs 53 f/c. 1.2312 = ensuing low, as US services survey details parsed
ISM new orders index jumped to 55.5; prices paid index 58.6 (sticky)
1.2340 was pre-ISM data high, as lower UST yields on NFP miss hurt dollar
1.2242 was pre-NFP high. Traders bet Fed to pivot to rate cuts by May
MPC hawk Haskel: UK's faulty labour market means rates must stay high
Source:
Refinitiv IFR Research/Market Commentary