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Pound Sterling: GBP Recovers Against Euro, Holds Above Lows Vs US Dollar
Pound Sterling (GBP) moves against the Euro (EUR) and US Dollar (USD( were dominated by global developments during Friday with no major levels broken. The Pound to Dollar (GBP/USD) exchange rate posted highs above 1.2790 in an immediate reaction to the US jobs data, but failed to hold the gains and drifted steadily lower to trade below 1.2750 as the US dollar recovered ground. GBP/USD traded around 1.2725 on Monday from 1.2715 lows. The Pound to Euro (GBP/EUR) exchange rate found support just above 1.1560 before a tentative recovery to 1.1590. Global growth and risk conditions will remain important for the Pound ... (full story)