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GBP Strength Pervades Headed Through the Tuesday WMR Fix

GBP
  • GBP holding a decent amount of post-fix strength in recent trade, with GBP/USD running up to 1.2259 and EUR/GBP extending slippage to a new daily low of 0.8576.
  • No new headlines or newsflow to drive the move, but volumes did pick up well headed into the 4pm WMR fix. GBP futures saw activity ramp higher, with near 4000 futures contracts trading inside 60 seconds - cash equivalent of around $290mln.

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