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"Imminent" Deal Not Enough to Prop GBP

FOREX

The single currency is outperforming early Friday, with the EUR rising against all others in G10. Commodity-tied currencies are at the bottom end of the table, with AUD and NZD trimming some of their recent strength. Equities are generally positive, with all major European indices in minor positive territory ahead of the key US data.

Once again, GBP has been one of the more volatile currencies, with GBP/USD briefly making another attempt at the 1.35 mark as Reuters cited an EU official as saying a trade deal is '"imminent" and is expected by the end of the weekend barring any last minute breakdown in talks. Nonetheless, the market clearly remains skeptical, with no long-lasting rally in GBP just yet.

November's Nonfarm Payrolls Report takes focus going forward with markets expecting the US to have added 475,000 jobs over the month - although the whisper is ever so slightly higher, at 500,000. The unemployment rate is seen dropping a further 0.1 ppts.

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