GBP / USD – Up After Fed Hold, Steady APP: Fed Awaiting Substantial Progress
GBP / USD ending NorAm + 0.06% at 1.3918, Wednesday Range 1.3922-1.3863
Fed holds as exp’d; awaits substantial progress on emp / prices
Will maintain current APP parameters, inflation rise seen as transitory
GBP’s cloud base support holds as early UST yield rise recedes GBP res 1.3950 Apr 21 high, then 1.3982 upper 30-d Bolli, 1.4009 Apr 20 high
Supt 1.3839 50% of 1.3670-1.4009 Apr range, 1.3811 Apr 11 low; 1.3748 100DMA
