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GBP Continues to Improve Off Lows, But Remains Well Shy of Friday Highs

GBP
  • GBP continues to turnaround off the session's lowest levels (which coincided with the European open at 1.3174) and is improving north of the 1.32 handle, with the bounce solidifying as wires confirm that PM Johnson is unlikely to announce any fresh activity restrictions following a meeting with cabinet at 1400GMT.
  • Nonetheless, the pair remains well off the Friday highs and last week's highs at 1.3340 and Thursday's 1.3374. Progress through here opens the 50-day EMA of 1.3431.
  • The Sun reports that while fresh activity restrictions are unlikely to be announced today, a number of measures remain under discussion including a post-Christmas ban on indoor mixing, an appeal to the nation to restrict social contacts, and a full blown lockdown.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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