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GBP/USD Outlook Mired by Cautious BoE Rhetoric, Brexit Uncertainty
The British Pound struggles to hold its ground as fresh developments coming out of the U.K. economy dampen bets for an imminent Bank of England (BoE) rate-hike, and GBP/USD may continue to consolidate over the remainder of the week amid the uncertainty surrounding Brexit proposal.Despite the 137K expansion in U.K. employment, the updates instill a mixed outlook for the economy as Average Weekly Earnings narrows to 2.5% per annum from a revised 2.6% in April, while claims for unemployment benefits increase 7.8K in June. Moreover, updates to the Consumer Price Index (CPI) may offer little relief even though the ... (full story)
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