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Feb 13 - 02:55 AM

GBP/USD - Vaults 1.25 On Unexpectedly Positive UK Q4 GDP Data

By Robert Howard  —  Feb 13 - 02:17 AM

• Cable rises to 1.2515 as GBP benefits from better than forecast UK GDP data

• Dec GDP up 0.4% vs 0.1% expected; Q4 GDP up 0.1% vs minus 0.1% expected

• 1.2515 is highest level since Feb 5 (1.2550 was one-month high that day)

• Asian session top was 1.5 pips shy of 1.2500 (before UK GDP data release)

• Rise towards 1.25 fuelled by Ukraine peace talks. 1.2377 = low on hot US CPI

• BoE's Pill 'cautious' about further rate cuts. Echoes view from MPC's Greene

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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