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May 29 - 03:55 AM

GBP/USD - Deflated By US Data, Higher UST Yields

By Rob Howard  —  May 29 - 02:45 AM
  • Cable hugs 1.2761 after retreat from Tuesday's nine-week peak of 1.2801

  • That peak was scaled before unexpected improvement in US consumer confidence

  • US data beat has helped inflate UST yields, to the benefit of the dollar

  • 1.2761 was GBP/USD high last week (after hotter than expected UK CPI data)

  • M&A news: BHP seeks more time over GBP 38.6 billion offer for Anglo American

  • UK election news: First Sunak-Starmer debate scheduled for ITV next Tuesday

Source:
Refinitiv IFR Research/Market Commentary

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