The Sterling (GBP) the selling continued overnight with GBP/JPY continuing to crash down towards Y120 in risk off trade. The GBP/USD broke under 1.5400 and the GBP was sold faster than even the beleaguered Euro with EUR/GBP climbing back above 0.8000. Looking ahead, May UK PMI forecast at 49.8 vs. 50.5 previously. Also ahead, April Unemployment forecast at 11% vs. 10.9% previously.
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