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Aug 12 - 04:55 PM

GBP/USD - Bulls Retreat By 1.28 Ahead Of Key UK, U.S. Price Data

By Paul Spirgel  —  Aug 12 - 01:40 PM
  • GBP$ +0.04% at 1.2763 into NorAm close, Monday range 1.2794-47

  • Early NorAm rise amid falling U.S. yields reversed ahead of upcoming UK data

  • Tuesday UK employment, earnings and Wednesday's UK, U.S. CPI in focus

  • Sterling steady ahead of upcoming UK employment and CPI releases

  • Rising employment, wages may signal steady UK inflation, high-for-longer BoE

  • Note BoE had expected inflation to rise into yearend 2024

  • GBP$ res 1.2794 Mon high, 1.2838 the 30-DMA, 1.2855 50% of 1.3044-1.2666

  • Supt 1.2747 Mon low, 1.2733 rising daily cloud top, 1.2665 200-DMA

Source:
Refinitiv IFR Research/Market Commentary

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