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In the red against the majors

GBP
  • GBP is the early loser against the USD in G10, after unwinding some of the USD sell off post the US FOMC.
  • Regardless, Cable trades right in the middle of yesterday's range at 1.2552 (1.2452/1.2638 range yesterday).
  • Market participants have likely squared longs and positioning after the less hawkish Fed yesterday.

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