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GBP Prints 5-Month Low

FOREX

The greenback has marginally extended gains in recent dealing, GBP has been pressured printing its lowest level since early April.

  • GBP/USD prints at £1.2305/10, the pair is ~0.3% lower and sits on key support at £1.2308 low from May 25. The next target for bears is £1.2227, 2.236 projection of Jul 14- 24 -24 price swings.
  • The Yen has erased losses and deals flat, Japan's Matsuno stated that its important for FX moves to be stable and reflect fundamentals.
  • Elsewhere the Antipodeans have extended losses, AUD/USD is down ~0.6% and NZD/USD is down ~0.4%.

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