Analysts at Scotiabank explained that GBPUSD is firmer on the back of last week's closing data.
"UK industrial production data reflected better overall output and manufacturing trends but disappointing construction data for Sep (bottom chart). UK trade data reflected a narrower deficit for the Sep month after very weak numbers in Aug.
Brexit talks will not lead to a deal in the short run, the EU’s negotiator said earlier; but a deal by Dec remains the objective. Positive headlines today do not remove either of the near-term political risks around a weakened prime minister or the longer run economic threats posed by Brexit."
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