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Jun 13 - 08:55 AM

GBP/USD - Holds Above Pre-US CPI High Before PPI Print

By Rob Howard  —  Jun 13 - 06:35 AM
  • Cable holds above 1.2767 ahead of US PPI, jobless claims data at 1230 GMT

  • 1.2767 was Wednesday's pre-US CPI data high (1.2859 was post-CPI data high)

  • Retreat towards 1.2767 spurred by Fed's relatively hawkish hold nL1N3IA1EV

  • UBS now expects Fed to start cutting rates in December rather than September

  • 1.2751 (Tuesday's high) and 1.2700 are GBP/USD support points below 1.2767

  • US PPI f/c 0.1% MM, 2.5% YY. Below-forecast PPI data could weigh on dollar

Source:
Refinitiv IFR Research/Market Commentary

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