The Sterling (GBP) tested resistance above 1.6400 but failed to close above the figure coming under profit taking pressure. March PPI increased 3.7% m/m and shows the clear inflation pressure the UK economy is under going forward. Overall the GBP/USD traded with a low of 1.6312 and a high of 1.6427 before closing the day at 1.6350 in the New York session.
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