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Steady sterling

The latest production data coming in line with expectations, rising 0.4% MoM with headline annual increase of 3.0%. Sterling has staged a modest recovery back to 1.68 after the release, with annual rates and revisions marginally positive for the currency. Some creeping strength also being seen vs the EUR, EURGBP moving lower again, close to lows for the year currently at 0.8065.

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