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Feb 22 - 03:55 AM

GBP/USD - Above 1.21 Following UK PMI Beat-Spurred Gains

By Rob Howard  —  Feb 22 - 03:00 AM
  • Cable jumped from 1.1990 to 1.2147 on big UK services PMI beat Tuesday

  • Big beat spurred higher gilt yields and hawkish shift in BoE expectations

  • Probability of BoE keeping rates at 4% next month down to 5% vs 20% Monday

  • 0#BOEWATCH. 1.2099 is low water-mark for GBP/USD since Tuesday's high

  • Jan 31-Feb 1 FOMC meeting minutes to be published at 1900 GMT nL1N34X1W1

  • Nurses in England pause strikes to enter pay talks with British government

Source:
Refinitiv IFR Research/Market Commentary

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