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Forex

GBP/USD Exchange Rate Bounces from 7-Week Lows

Guavy AI Editorial Team
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GBP
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The Pound Sterling to Dollar exchange rate (GBP/USD) has seen a recovery towards 1.3360 after hitting seven-week lows below 1.3330.

This brief dip was caused by a decline in the pound due to mixed UK data, including an increase in government borrowing requirements and higher debt interest payments.

However, Scotiabank remains positive on the pound's outlook, citing the importance of support in the mid-1.33s and limited resistance ahead of 1.3450/1.3500 range.

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