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Sterling rises on Brexit optimism

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The GBP/USD currency pair will rise in the medium term above 1.42, according to our analysts.The Pound is particularly attuned to the issue of a transitional period, which would negate the potential for a Brexit that would see the E.U. and U.K. go their separate ways in March 2019 without a formal agreement.

Sterling was seen jumping higher against a host of major currencies lately, confirming that its fate this year will remain strongly correlated with developments regarding Brexit.

The most important data about the pound sterling this week will be the Consumer Price Index (expected +0.4MoM, +0.3% previous; expected +3% YoY, +3.1% previous), tomorrow, and U.K. retail sales (expected -1% MoM, +1.2% previous; expected +2.6% YoY, +1.5% previous), on Friday.

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