• GBP$ up a smidge in NY afternoon, +0.16% at 1.3429; NorAm range 1.3443-1.3405

• Early gain on upbeat Mideast peace expectations pared into NorAm EOD

• Upcoming Fed rate announcement on Wednesday, and BoE Thursday stir position curating

• Both c.banks expected to hold this week; for now each seen hiking 25bp in Q4

• Oil lower, futures strips indicate prices to yearend & beyond holding above prewar lvls

• Global inflation may persist as the Strait of Hormuz reopens and oil deliveries resume

• GBP$ res 1.3443/47 Tues high/30-DMA, 1.3496 daily cloud top, 1.3509 May 25 trend high

• Supt 1.3400 psychological lvl, 1.3383 daily low June 12, 1.3304 May 18 trend low

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)