The Sterling (GBP) orbited the 1.6000 level in light range trading with the market consolidating the recent rally. December Claimant Count was -4k vs. -1.2k previously and helped to support the pound as risk appetite waned. Overall the GBP/USD traded with a low of 1.5943 and a high of 1.6040 before closing the day at 1.5980 in the New York session. Looking ahead, January CBI Orders are forecast at -2 vs. -3 previously.
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