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Pound spike on inflation data fairly short-lived

Cable jumped up to a high of 1.2802 but quickly fell back to pare all of the quick gains in a fall to 1.2765 currently. As mentioned earlier:"Based on OIS pricing, a 25 bps rate hike is 100% priced in for this week and I don't see that changing regardless of the data. What matters now more for the pound and UK rates is the terminal pricing. That is now seen at around 5.83%, which means there is a long way to go with the bank rate now at 4.50%."The data today doesn't change the fact that there wi... Read More

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Content Topics

Pound

Spike

Inflation

Data

Fairly

Short

Lived

Short lived

Forex

Posted: Jun 21 2023, 06:29

Author Name: forexlive

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