• GBP$ soft in NY afternoon trading -0.44% at 1.3426; Monday range 1.3505-1.3423

• Early GBP bid on wave of USD, EUR intervention-related selling versus JPY abated

• Oil down more than 5%, gilt yields down near-10bp in 2-10-yr part of curve weighs

• Fed-BoE short-term rate convergence, IMM spec short unwinds likely supports

• LSEG'S IRPR sees Fed 68% odds for hike in Sept, near-100% in Oct; BoE 70% odds for Dec hike

• GBP$ supt 1.3423 Monday low, 1.3400 psychological lvl/200-DMA, 1.3352 30-DMA

• Res 1.3500/05 psychological lvl/Mon high, 1.3534 upper 30-d Bolli, 1.3610 May 12 high

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)