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GBP Fades Outpaces Pullback in EUR

GBP
  • GBP/USD's fade off the high is outpacing that of EUR/USD, with the pair shifting back to broadly flat on the session. Overnight lows at 1.2283 should provide weak support, but seen stronger headed into 1.2179 - marking both the Mar 23 and 21 low.
  • BoE's Bailey & Ramsden continue to speak in front of the Treasury Select Committee, but policy-relevant comments relatively few and far between so far - focusing instead on the recent bank stresses.
  • Options risk pretty muted around GBP Tuesday, with month-end expiries on Friday of more interest, with close to £2bln set to roll-off between 1.20 and 1.21, potentially providing an anchor to any intraday rallies headed into Mar31.

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