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Nov 24 - 03:55 PM

GBP/USD - Slips To New 11-Month Low Amid US-UK Rate Divergence

By Paul Spirgel  —  Nov 24 - 02:16 PM
  • Sterling bears thankful, pair slips 0.41% to 1.3319; Wed range 1.3388-1.3317

  • Upbeat US data nL1N2SE29R keeps accelerated US policy shift vibe alive

  • US-UK 5-yr spreads remain near trend wides; policy outlook diverging

  • Fed mins: key element-speeding up taper may be warranted to adjust FF rate

  • Sterling soft as price linked to relative rate expectations nL1N2SF1TX

  • Support at Wed low 1.3317, 100-WMA at 1.3290, lwr 30-d Bolli at 1.3274

  • Res at Wed high 1.3388, falling 10DMA by 1.3416; 1.3577 50% of 1.3834-1.3320

  • EUR/GBP -0.05% to 0.8402, Wed range 0.8413-0.8385; BoE seen more hawkish than steady ECB

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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