The Sterling (GBP) underperformed the broader market as the concerns about the weakness of the UK economy offset the inflation/rate hiking expectations. EUR/GBP reclaimed 0.8500 and pushed higher threatening to break to the topside and change the trend of the cross. Overall the GBP/USD traded with a low of 1.6083 and a high of 1.6257 before closing the day at 1.6140 in the New York session.
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