The Sterling (GBP) failed to track the rest of the market underperforming on strong EUR/GBP buying. The important cross edged back above 0.8800. GBP/JPY fared better ending above Y132 and looking to confirm a bottom has been put in place. Overall the GBP/USD traded with a low of 1.6314 and a high of 1.6424 before closing the day at 1.6370 in the New York session. March Trade Balance forecast at -7.25bn vs. 6.78bn.
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