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Last week we saw better than expected non farm payroll data at 103,000 new jobs compared with the 60,000 analysts were expecting. Following all of the poor data recently investors have chosen to keep their funds in the USD using it as a safe haven however with this recent data investors risk appetite has improved and we have seen GBP/USD rates hit 1.56 again. Should we continue to see stronger than expected data out of the US it wouldn’t suprise me to see rates strengthen further.

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