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The UK and EU have come to a new post-Brexit agreement on the treatment of Northern Ireland trade. It is early days but this paves the way for a broader improvement in relations and trade flows. This will benefit GBP.
Another surge of USD strength and selling of risk assets has come in the past 24 hours. Russia ramping up the geopolitical tensions in the Ukraine war has come before the Federal Reserve aggressively hiked interest rates again.
The EUR continues to perform well against other major currencies. With the upcoming ECB monetary policy meeting, we expect this to continue.
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