Pound Sterling (GBP) can also be getting into Tuesday’s NA session unchanged towards the US Greenback (USD) and caught inside a flat channel on the higher finish of its longer-term vary, Scotiabank’s Chief FX Strategist Shaun Osborne notes.
Close to-term assist is positioned round 1.3250
“This week’s knowledge spotlight can be Wednesday’s CPI launch for the month of April, with expectations of a big improve in headline and a reasonable improve in core.”
“The discharge is unlikely to shift near-term expectations for the BoE, the place charges are anticipated unchanged for the subsequent assembly in June. August is presently priced at 18bpts, with September absolutely priced for a 25bpts minimize.”
“GBP/USD’s worth motion continues to be outlined by the flat vary sure between the mid-Might low within the mid-1.31s and the late April excessive within the mid-1.34s. Momentum is impartial and we glance to near-term assist round 1.3250.”
