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Pound Soars on Upbeat Employment, USD Drops on Weak Housing

EUR 23.1 billion, missing median estimates at EUR 20.3 billion. 1.76 million (f/c 1.77 million). GBP/USD – soared above the 1.4200 level following upbeat UK Jobs data. The British Pound hit an overnight and February peak at 1.42202 before easing to close at 1.4186. UK Prime Minister Boris Johnson eased several restrictions on Monday despite fears of a rise in a new Indian variant of Covid infections. EUR/USD – The Euro extended its rally against the Greenback, finishing as best performer among the majors. EUR/USD traded to 1.2234 overnight, near 3-month highs, before easing to settle at 1.2225. Bullish sentiment for the shared currency continued to grow as traders expect activity to pick-up as lock-down restrictions are relaxed in the Continent. Eurozone CPI data are due for release tonight.

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