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Jan 22 - 02:55 AM

GBP/USD - Dips As UK Government Borrows More Than Expected

By Robert Howard  —  Jan 22 - 02:32 AM

• Cable eases to 1.2312 after data shows UK borrowed GBP 17.8 billion in Dec

• Higher than expected amount; 14.1 bln was forecast. 1.2312 = intra-day low

• GBP/USD fell to 1.2316 just before the UK public finance data was released

• 1.2360 was Tuesday high, as lower gilt yields lifted the pound

• Higher gilt yields negatively impacted sterling at the start of this month

• 1.2360 is highest level since Jan 9. 1.2230 was Tuesday low (during Ldn am)

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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