The Sterling (GBP) the weakness of the Euro spread to the GBP and we saw a pullback from 1.5900 to 1.5850. Helping support was the August PMI services which jumped to 53.7 vs. 51.0 previously. This combined with a stellar manufacturing survey on Monday have helped improve the outlook and sentiment toward the Pound. Looking ahead, July Retail Sales forecast at -1.5% vs. -1.2% y/y.
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