The Sterling (GBP) underperformed the rest of the market as March CPI fell to 4.0% vs. 4.4% previously. This caused the GBP/USD to fall to day lows in the lower 1.6200 region and EUR/GBP popped to multimonth highs above 0.8900. Overall the GBP/USD traded with a low of 1.6225 and a high of 1.6346 before closing the day at 1.6260 in the New York session. Looking ahead, March Claimant Count forecast at -4.2k vs. -10k previously.
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