The Sterling (GBP) was stronger grinding higher to 1.6100 before running out of steam and settling back to 1.6070. The support above 1.6000 last week and yesterday has the topside in focus and we could retest the 1.6130 highs from last week and open up the 2012 highs near 1.6300. Looking ahead, December German ZEW forecast at 012 vs. -15 previously.
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