The Pound Sterling pushed higher to near 1.3250 in overnight trade before easing back, Scotiabank’s Chief FX Strategist Shaun Osborne notes Cable is at risk of testing trend support 1.3200/05 “UK Gilts are underperforming moderately, giving the pound some modest yield support but the steady ramp up in Cable from the start of Asian trade suggests a buy program was behind the gains rather than anything fundamental.
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