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GBP Volatile, Gilts Bought on Further Brexit Headlines

UK

Both GBP and Gilts volatile as further Brexit headlines cross. Reuters cite sources in reports that the EU and UK are likely to miss the mid-November deadline to seal a new trade deal, with negotiations to extend through the week. On the plus side, however, the report goes on to say that EU diplomats now expect a deal to be presented in the middle of next week, tempering some of the volatility.

- GBP/USD briefly rallied north of the 1.30 mark on the initial release, touching 1.3312 before reversing and taking a leg lower, touching new daily lows of 1.3241.

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