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GBP: SOME MOVEMENT IN UK SWAP RATES – ING

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UK rates softened quite a lot yesterday and for the month so far, two-year sterling swap rates <wbr>are off around 30bp, ING’s FX strategist Chris Turner notes.

EUR/GBP to correct to the 0.8485/8500 area

“It is unclear whether this is a function of the soft UK GDP data yesterday or more just a conviction that rates will be taken lower around the world and that the UK should be no exception – despite radio silence from the Bank of England.”





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