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Cable Nears Weds High and Best Levels Since Early Feb

GBP
  • Weaker USD backdrop and softer EUR post-CPI data is helping GBP find favour in early trade, keeping GBP/USD within range of 1.2362 - the highest print since early Feb.
  • Little options interest near current levels into month-end (nearest notable expiry rolls off tomorrow at 1.2100), but more significant interest next week noted at 1.2250, with $1.1bln rolling off on Apr04, which could anchor any near-term rally.

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