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FOREX: GBP on the defensive ahead of Commons votes
-While today's price action has been far more muted than sessions earlier this
week, GBP is on the defensive after a volatile Wednesday as markets shy away
from the currency ahead of a series of Commons votes on Brexit due this evening.
GBP weakness was also cemented by comments from BoE's Vlieghe, who stated that
easing or a long pause for policy is likely in a 'no deal' Brexit scenario.
GBP/USD retreated below $1.2850 this morning and remains below that mark ahead
of the NY crossover.
-The USD also trades slightly weaker after a particularly strong Wednesday
session as markets take profit on the move. This isn't evident in NZD, however,
which adds to recent gains and is again the strongest performer in G10. NZD/USD
closed above the 50-dma yesterday, putting bulls on track to test February highs
-US PPI, retail sales and weekly jobless claims are the calendar highlights,
with a speech from Fed's Harker also due.