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GBP/USD Gains Mild Relief From UK GDP But UST Yields Remain Key

GBP
MNI (London)
  • Better than forecast UK monthly GDP allows GBP/USD to edge back above $1.3950 to $1.3956, from its pre release low of $1.3945.
  • However, the sharp rise in UST yields, seen in late Asia, provides a decent counter.
  • UK trade also came in better than forecast but IP and Manufacturing data missed expectations.
  • Support now seen at the ealrier low of $1.3945 ahead of $1.3930/20. Resistance remains at $1.4000/10.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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