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GBP/USD trading 1.5100 pre London open

FXstreet.com (London) - The GBP/USD has drifted lower from 1.5152 in quiet European markets and extending losses over night dropping to 1.5064.

The pair managed to par those losses back above the figure and has been oscillating in a tight range between 1.5100 and 1.5113. While there isn't anything data wise for the UK today, there are more May surveys coming up for the US heading into next week’s payrolls. The market expects a flat reading in the Richmond Fed and improvements in the Dallas Fed (from -15.6 to -10) and Conference Board Consumer Confidence (from 68.1 to 70.7). Support is at 1.5063 followed by 1.5013 (previous week low).

Switzerland: Trade surplus narrows more than expected in April

Swiss Trade surplus narrowed to CHF 1.73 billion in April from CHF 1.89 billion in March, according to data released today by the Federal Statistical Office. Analysts expected the surplus to narrow slightly less to CHF 1.76 billion.
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France May Consumer Confidence falls to 79 vs 83 (April)

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