Currencies: Pound climbs as Brexit negotiations loom; dollar benefits from GDP revision

The British pound climbed on Thursday as investors awaited the European Union’s opening salvo in negotiations over the terms of the U.K.’s exit from the trading bloc.

The pound GBPUSD, +0.4423% climbed 0.6% to $1.2510, compared with $1.2435 late Wednesday in New York. The U.K. currency benefited from both weak inflation data in several eurozone economies, as well as reports that the Trump administration is studying ways to penalize currency manipulators, which caused the dollar to pare its gains against rivals. The EURGBP, -0.7392% as down nearly 1%, trading at 86 pence, compared with 87 pence on Wednesday.

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