The Sterling (GBP) strong Retail data allowed a test of 1.6000 in Europe but the market failed to break and we saw a pull back into the US session. The Pound is still the strongest risk currency in the market recently and GBP/AUD buying last night highlighted the dramatic change of fortunes since last recent all-time lows below 1.4500. Looking ahead, Q4 GDP forecast at -0.2% vs. -0.2% previously.
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