Free Trial

Solid Wages Data Still Underpinning GBP Outperformance

GBP
  • GBP confirming its place as the best G10 performer on the day - putting GBP/USD at fresh daily highs and shrugging off the entirety of the data-induced bump higher. EUR/GBP also pinned to earlier lows of 0.8583, a break below which be the lowest level since August 1st. GBP/USD upside first targets 1.2775, the 50-dma.
  • BoE peak rate pricing creeping higher on this morning's jobs data - as noted earlier, a full 50bps in cumulative tightening is now priced for the Sep, Nov meetings to point to a peak rate of 6.00% (in Mar'24) for the first time in a month.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.