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Pound Recovers As Boris Johnson Becomes PM, Capped by Bearish Data

The British pound is rallying on Tuesday after it was confirmed that former London Mayor Boris Johnson would become Britain’s new prime minister. In addition to a higher pound, European markets appeared to cheer on the pro-Brexit politician as leading indexes recorded 1% gains. But that did not prevent disappointing data from capping the currency’s ascent.

US Dollar Strengthens on Initial Jobless Claims, Fed Minutes

The US dollar is strengthening against a few currencies at the end of the trading week, buoyed by another decline in initial jobless claims and a central bank that is unlikely to do anything on interest rates. But disappointing housing numbers put a cap on the buck’s ascent.

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