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Sep 12 - 10:55 PM

GBP/USD - Ensconced Within Wednesday Range As Lagarde Speaks

By Rob Howard  —  Sep 12 - 09:25 PM
  • Cable meets headwind pre-1.3071 after extending north from 1.3003

  • 1.3071 was Asia low Wednesday. 1.3003 was three-week low Wednesday

  • More offers expected around 1.3100 (1.3112 was Wednesday high)

  • US jobless claims 230k, as forecast. US PPI up 0.2% MM vs 0.1% forecast

  • Data underpins expectation that Fed will cut rates by 25 bps next week

  • Lagarde stresses ECB's data-dependent approach, re: rate cuts nL1N3KU06H

Source:
Refinitiv IFR Research/Market Commentary

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