The Sterling (GBP) was one of the strongest in the recovery rally yesterday climbing above 1.6000 in a stunning return to strength. GBP/JPY buying was noted with market turning more bullish on the GBP going forward due to inflation risks. Overall the GBP/USD traded with a low of 1.5823 and a high of 1.6052 before closing the day at 1.6015 in the New York session.
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