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GBP review

Sterling rallied close to 1-month highs against both the US dollar and Euro last week after solid UK labour market data. The reports on jobs and wage growth gave international investors more confidence about future UK economic growth and helped divert attention away from political speculation ahead of elections on May 7th.  

The BOE will publish its April meeting minutes on Wednesday April 22nd at 09:30 and the notes could uncover another currency surprise. Previous minutes revealed concerns amongst policy makers about the strength of the pound weighing on UK inflation prospects. 

Solid UK retail sales data on Thursday April 23rd at 09:30 could offer more support for Sterling. However, Greek debt negotiations could still be the main driver for currencies.

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