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Mar 10 - 02:55 AM

GBP/USD - Rises To Three-Day High On UK Jan GDP Beat

By Rob Howard  —  Mar 10 - 02:25 AM
  • Cable rises to 1.1952 on UK Jan GDP data beat; up 0.3% vs 0.1% forecast

  • 1.1952 is highest level since Tuesday (1.1805 was Wednesday's 15-week low)

  • Jan GDP beat is boost for hawks advocating another BoE rate hike on March 23

  • 1.1939 was Thursday's high, after higher than expected U.S. jobless claims

  • U.S. employment report due at 1330 GMT; Feb NFP f/c 205k (Reuters poll)

  • Money markets currently see about 50% chance of 50 bps Fed hike on March 22

Source:
Refinitiv IFR Research/Market Commentary

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