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Forex Daily Updates
GBP/USD slipping as markets hunker down ahead of the US inflation risk event

By - Fx Street

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Sterling also powered higher as there was nothing particularly damaging in the government’s Spring Statement. According to Chancellor Hammond, the U.K. will grow faster this year and slow in the years to follow. Public sector borrowing should be less but overall, they felt that there’s “little reason to change our view of medium-term growth potential." Some analysts were hoping for a boost in tax revenues that would improve public finances but the OBR felt that they were cyclical and not permanent. Regardless, sterling shot higher after Tillerson’s departure hit the wires and atention to danish kronathe move took GBP/USD out of its 6-day-long range. The pair is now trading at its highest level in March and primed for a move to 1.40.

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