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Bannockburn analysts point out that the GBP has poked above pre-weekend high (~$1.3225) in early Asia & tried again in the European morning.

Key Quotes

“There is an unusually large sterling #option (GBP1.6 bln) struck at $1.3200 expires today and another one (GBP1.3 bln) at $1.3250 that will also be cut.”

“Support is pegged near $1.3160. It remains vulnerable to headline risk.”