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GBP/USD: Likely to trade in a 1.2310/1.2550 range – UOB Group

Pound Sterling (GBP) is expected to trade in a range between 1.2390 and 1.2490. In the longer run, for the time being, GBP is likely to trade in a 1.2310/1.2550 range, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

No increase in either downward or upward momentum

24-HOUR VIEW: "We highlighted yesterday that while GBP is likely to continue to rise, any further advance is expected to face strong resistance at 1.2500.' However, GBP swung between 1.2377 and 1.2483 before closing unchanged at 1.2445. There has been no increase in either downward or upward momentum. Today, we expect GBP to trade in a range between 1.2390 and 1.2490."

1-3 WEEKS VIEW: "Our latest narrative was from last Friday (09 Feb, spot at 1.2440), wherein 'for the time being, GBP is likely to trade in a 1.2310/1.2550 range.' There is no change in our narrative for now."

USD/CHF drops below 0.9100 as US Dollar depreciates ahead of US PPI data

USD/CHF depreciates approximately 0.50%, trading around 0.9080 during the European hours on Thursday.
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USD: Scope for further correction unless new tariffs announced – ING

On a normal day in FX markets, yesterday's much-higher-than-expected US inflation print should have left the US Dollar (USD) stronger across the board and risk assets under pressure.
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