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Believing that today’s data could also move the GBP, I decided to put in my straddle with the following details: –

Stop if Offered 1.3280, Spot 1.3312, Stop if Bid 1.3240

As it turned out, unemployment was lower, claimant count was lower and average earnings index was lower……………..does that all mean BOE may tighten monetary policy?

In the meantime, my stop if offered leg was triggered, but market wasn’t moving, it was gyrating between 1.3275 and 1.3285.

So I decided to square the position at 1.3275………….ALL SQUARE.

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