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The recent decline in the dollar has played a big role in the recovery of the pound against the dollar.
Analyst James Harte said in a note: “With some high-level investors buying sterling at the September lows, more cautious investors are likely to join the action as prices are set to continue higher for now, which should Keeping the GBP pair supported in the near term.”
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The next U.S. inflation data will be key for GBP/USD, with a further cooling in inflation likely prompting the Fed to raise rates slightly in December, while rising inflation could prompt a bigger hike.
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