The Sterling (GBP) was under heavy selling pressure and is struggling to hold on the 1.6000 handle but has held so far. A break lower would send the Cable lower and EUR/GBP into new highs with the European single currency much safer than the risk sensitive pound. Overall the GBP/USD traded with a low of 1.5980 and a high of 1.6134 before closing the day at 1.6005 in the New York session.
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