GBP/USD week 49

The British pound rose to a 3-month high of $1.3407 on Tuesday, before paring some gains to trade around $3.335 supported by better-than-expected manufacturing PMI data, hopes of a post-Brexit trade deal, easing coronavirus restrictions, and upbeat COVID-19 vaccine results. Final Markit PMI data showed British factory activity expanded more than initially thought and at the fastest pace in almost 3 years. Also, Brexit negotiations entered the final month and German Chancellor Angela Merkel urged negotiators to pull all effort into the last step.

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