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GBP/USD off best levels as UK government borrowing data looms at 7am GMT

More usually the amount of UK government borrowing would not immediately be a focus for the markets, but more recently that is no longer the case, given the increased levels of UK debt, added by the Chancellor last year. That has put a good deal more pressure onto the UK bond markets and lifted those yields for some time now. All this has been covered here in many updates over the past few months and the context of that is why the focus on the latest borrowing data shortly this morning. The December net borrowing data will be released at 7am GMT. The markets expected an increase in the monthly public sector demand, of 14.2 billion pounds. The UK government borrowed 11.2 billion for the public sector in November. The GBP/USD has been on the rebound since the lows seen on Monday, at 1.2161. The high from that low was actually set earlier last night, at 1.2360. The GBP/USD closed in the US last night at 1.2350. It is off that high now though, currently trading at 1.2320 ahead of this increasingly important borrowing data 
 

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