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Aug 22 - 04:55 AM

GBP/USD - Up After UK Borrows Less Than Expected In July

By Rob Howard  —  Aug 22 - 02:50 AM
  • Cable rises to 1.2792 after data shows UK borrows less than expected in July

  • 4.3 billion pounds vs 5 billion f/c. 1.2792 is highest level since August 10

  • Risk-sensitive pound also benefits from 3% gain for Hang Seng tech index

  • 1.2777 was Asia high, pre-UK data (1.2788 was last week's high, August 17)

  • Resistance levels include 1.2800 and 1.2817/18 (August 10 high/38.2% Fibo)

  • Britain sees surge in interest from non-EU job hunters nL8N3A24S3

Source:
Refinitiv IFR Research/Market Commentary

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