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Jul 16 - 04:55 AM
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GBP/USD - On 1.35 Handle After Mahmood Tip-Spurred Surge
By Robert Howard — Jul 16 - 02:35 AM
• 1.3520 is low water-mark for cable since Wednesday's surge to 1.3556
• Surge to 1.3556 (nine-week high) aided by short-covering on UK political news
• UK's incoming PM Burnham to name Mahmood as finance minister, FT reports
• Ed Miliband had been hoping to get the job. Burnham takes charge on Monday
• UK faces £330 billion fiscal problem, think tank says. British Steel nationalised
• UK GDP up 0.1% in May, as forecast. 1.3500 is now a
GBP/USD support point
GBPUSD
(Robert Howard is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters