Forex Market News

GBP Recovered On Short Covering

GBPINR trading range for the day is 79.42-81. GBP recovered on short covering after hit by fears of prolonged political jousting over the terms of Britain’s exit from the European Union.
British Prime Minister Theresa May won parliamentary backing to begin the process of leaving the EU and start two years of talks that will shape the future of Britain and Europe.
The British Chambers of Commerce upgraded the UK growth outlook for this year citing an upward revision to UK GDP growth data in the final quarter of 2016.
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