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Bund recovers to pre UK CPI level, GBP drifts.

CROSS ASSET
  • Bund is back above pre UK CPI levels, was trading circa 134.14, and Gilt continues to recover, but would still need a test to 97.05 to close the opening gap.
  • The Pound drifts lower, through 1.2400 in against the USD and at new low versus the EUR, JPY.
  • Support in Cable is at 1.2373 Low May 23.

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