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Positive React to UK Retail Sales, But Muted by Focus on Brexit Talks

GBP
MNI (London)
  • Release of better than forecast UK Retail Sales data provided sterling with a lift, taking GBP/USD to a fresh intraday high of $1.3288, with EUR/GBP easing away from its 10-dma(Gbp0.8951).
  • Borrowing data does provide some counter.
  • However, main focus remains on ongoing Brexit trade negotiations, a break through seen needed to provide stronger upside momentum to clear recent highs at $1.3312.
  • GBP/USD currently trades around $1.3281, EUR/GBP at Gbp0.8945.
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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