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Not exactly an encouraging rebound for the GBP/USD this afternoon
Earlier today the second rejection of a possible rise above 1.2250 in the GBP/USD sent the price lower and eventually it fell below 1.2150. The low seen came ahead of the release of the US PPI report, at 1.2140. The rebound after it saw the Pound spike to 1.2180, but since then it has been tailing off again and now it is not much above that earlier low. That is surely disappointing for anyone who is a fan of the Pound right now, because it could have done so much better. That is not to rule out another attempt on the topside, but the failure to rebound so far does endorse all that has driven it lower in the first place. UK yields are higher and the FTSE 100 is simply refusing to make any real headway so far today. The GBP/USD is right now at 1.2149
Market News
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