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GBP/USD hands back gains to 1.2345 as UK jobs report looms at 7am GMT

The rebound in the dollar this morning has not just been about the Euro and the Canadian dollar, because the GBP/USD has also fallen foul of those new Trump tariff comments. As already noted yesterday, the Pound rose from a low at 1.2161, to reach 1.2344 ahead of the close last night. The GBP/USD ended the US session at 1.2328. Earlier today it was in the process of trying to push higher, when the fresh Trump news also sent it reeling. The GBP/USD slumped from a session high at 1.2345, to a low at 1.2249. It is edging off that low now, but we have some important UK data due out shortly, at 7am GMT- the latest jobs report, covering the 3 months to November and November itself. The markets are expecting a significant rise in UK wages and a lower payroll count. Well, if seen neither of those are positive for the economic outlook. There will be much more to add, when all that data arrives. Meantime, the GBP/USD is right now at 1.2278 
 

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