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GBP/USD Rate Picks Up, Shows North of Tuesday High

GBP
  • GBP/USD spot picking up pace on the break through the Tuesday high - now trading at best levels since Aug10 and narrowing the gap with next key resistance at 1.2819.
  • No concurrent move higher in market implied-BoE rate path, however peak rates for March next year still priced at just above 6.00%. Very minor uptick in volumes alongside the spot strength, with just over 2,000 contracts changing hands over the past 15 minutes (cash equivalent of ~$190mln).

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