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Forex pairs in this Article » EUR/USD, GBP/USD (New York) - In the US, the FOMC July minutes continued to suggest that a September tapering of asset purchases is likely, and this appears to have provided the USD with some support against the GBP, suggests the RBS Research Team.

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However, “this still remains dependent on labor market developments, leaving next week’s US Payrolls report a key focus for markets. This week, with Carney expected to do his best to jawbone UK rates lower, GBP/USD may struggle to maintain recent positive momentum.”

Meanwhile, “with last week’s flash Euro-zone PMIs also pointing to ongoing improvement in the Euro area economy and ECB comments that recent developments leave further rate cuts looking unlikely, EUR/GBP may have some upside.”
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