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GBP/USD backs off from 1.2700 again

Last night the dollar weakened versus the European currencies and that allowed for gains in both the EUR/JPY and the GBP/JPY. The GBP/JPY came very close to setting a new 9 year high, when it reached 191.19. That cross is right now trading closer to 190.75. As stated here earlier in the day, it was that cross which partly helped the GBP/USD to make a move back above the 1.27 handle. The high seen ahead of the US close was set at 1.2706. It lated ended that session at 1.2692 and it has not made any progress so far today. The high seen earlier was set at 1.2695. That said, the current low is not very far below that, currently at 1.2675. There will be more to add on the Pound as the morning unfolds. The GBP/USD is right now trading at 1.2679

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