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GBP/USD edges to session highs as Dollar gains versus Europe subside

Earlier today, the risk drivers coupled with higher US yields saw the Euro and the Pound fall versus the dollar. The GBP/USD had closed in the US last night at 1.2701. The low seen earlier today was set at 1.2681. So, as the dollar hands back gains ahead of the US data releases this afternoon (at 12.30pm GMT) has seen the Pound push up towards 1.2725. In fact the Pound has just this minute  hit a session high at 1.2722. However, it remains to be seen just how much further this rebound will extend and then what impact that US data might have on the current recovery. The GBP/USD is currently trading at 1.2720

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