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Analysts at Scotiabank explained that sterling was pressuring noted support in the upper 1.29s this morning and looks vulnerable on some crosses.

Key Quotes:

“We think last week’s low close for the pound and the market’s broader failure to hold gains above 1.32/1.33 recently leave Cable looking vulnerable to renewed weakness.”

“A daily close under 1.2957 today  shouldsee  the pound slide further.”