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GBPUSD benefitted from a degree of USD........>

CABLE
CABLE: GBPUSD benefitted from a degree of USD softness overnight and last deals
15 pips higher at 1.3562, back from session highs of 1.3577. Resistance comes in
at yesterday's high (1.3606) followed by the May 02 high (1.3666)
- The main risk event facing GBP traders on Thursday will of course be the BoE
MonPol decision.
- A string of soft UK data releases has left most exp. the BoE to stand pat
today with a 7-2 vote eyed.
- MNI PINCH is pricing a 12% chance of a hike today, a 69% chance of a hike in
August, with a hike fully priced by the end of the November meeting.
- The growth projections in the QIR will provide further interest owing to the
recent run of disappointing data.
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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