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Jun 10 - 03:55 PM

GBP/USD - Surges Versus USD, EUR As US, EZ Rates Slip After US CPI

By Paul Spirgel  —  Jun 10 - 01:41 PM
  • GBP/USD holds NorAm gain into close +0.38% at 1.4167; NY range 1.4174-1.4082

  • Bulls shrug off UK-EU trade woes, rally after dovish ECB hold, upbeat US CPI

  • Sterling benefits from ECB accommodation and upbeat US CPI data nL2N2NS1NJ

  • Bears test 30DMA to no avail, bulls regain 10-DMA, eye Jun highs abv 1.42

  • GBP/USD 25D RR's near zero hint at lack of conviction GBPVOL=nL2N2NS0QB

  • UK GDP Thursday, employment data Jun 15, Fed meeting Jun 16 next key data

  • EUR/GBP -0.39% at 0.8593, Thurs range 0.8642-0.8593

  • Dovish EUR view post-ECB favors GBP gains; DE-UK 10yr spread slips 2.2bps

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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