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GBP Recovers Earlier Daily Losses

M. Ali 19 January, 2021 2:02 am Forex Market, Market Update

The British Pound (GBP) has recovered most of its earlier losses on Monday against the U.S. Dollar (USD) amid the decline of the later.

The Sterling saw a negative performance throughout the first day of the week amid uncertainty resulting from the prospects of London losing its position as leading financial hub after the Brexit.

The GBP/USD pair is currently down for the day by 0.03% at 1.3586.

The pair has been moving today mostly in the negative territory, going as low as 1.3520, while its highest level today was at 1.3612, taking in mind that it closed last week at the level of 1.3610.

Against the Euro (EUR), the GBP is showing an even better performance, rising marginally by 0.03%, with the GBP/EUR pair currently trading higher at 1.1248.

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