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Volumes Surges in Minutes Ahead of the WMR Fix

GBP

GBP seeing some firm volumes cross in recent trade, GBP/USD being buoyed up toward the day's highs just minutes out from the 1600GMT fix. Move not news or headline drive, suggesting fix-related flow likely responsible here.

Easily the best volumes of the day crossing in GBP futures on that move - around 7,500 contracts change hands in the few minutes ahead of the fix or ~£470mln cash equivalent.

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