The Sterling (GBP) held onto gains against the USD well and strengthened against the Euro in a continuation of the recent rally this week. The market is cautiously coming back to the GBP which has been under heavy selling pressure due to deteriorating economic data and outlook. Overall the GBP/USD traded with a low of 1.6093 and a high of 1.6188 before closing the day at 1.6160 in the New York session.
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