The Sterling (GBP) fell back to the 1.6000 major level as Cable fell in sympathy with the EURO. EUR/GBP fell back slightly from the 0.8800 level and is developing into a closely watched gauge of GBP relative strength. Overall the GBP/USD traded with a low of 1.6021 and a high of 1.6142 before closing the day at 1.6021 in the New York session.
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