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Forex: GBP knocked lower by production data

Sterling having to deal with some worse than expected production numbers, which showed the headline rate falling 0.7% in May.  The currency had so far managed to outperform the dollar during July, despite the strong run seen in June, so in some ways this correction lower was a long time coming. We are seeing cable around 50 pips lower to 1.7090, EURGBP at 0.7955.

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