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Cable Consolidates Recent Gains

GBP

Cable looks through Asia-Pac bests to print a high of $1.2795, building modestly on yesterday’s gains, sitting at the highest level observed since April ’22.

  • This comes after a hawkish ECB and worse than expected outcome on the U.S. initial jobless claims front pressured the greenback on Thursday, allowing the pair to build on the BoE repricing-inspired bid lodged earlier in the week.
  • The bid has extended the current bull cycle, with bulls now focused on the 25 April ’22 high ($1.2877).
  • The latest BoE/Ipsos inflation expectations survey headlines a limited domestic docket today. Further out, next week’s tier 1 UK data releases include the monthly inflation and retail sales readings, as well as flash PMIs although it will be the latest Bank of England monetary policy decision (Thursday) that gets the most attention.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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