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GBP Rallies, Gilts Drop as UK Sends Deal Drafts

UK

GBP/USD climbs to the best levels of the session as Bloomberg reports that the UK have sent 5 different trade deal drafts and draft legal text including state aid to the EU in a bid to unblock current talks.

Rate rallies to touch new session highs and shows above $1.29 in response. Next resistance at the Monday high of 1.2930.

Comments from BoE's Bailey could also be lending some support, as the BoE governor outlined that QE and forward guidance remain tools the BoE could use in any further downturn, but adds that the Bank have not yet reached a judgement on whether to use them.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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