GBP/USD - 1.6520 .. Cable also rebounded in tandem with euro fm Asian low of 1.6457 n in part due to cross-buying in sterling (gbp/jpy rose fm 156.29 to 157.11). Bids are now building up fm 1.6500 down to 1.6475 n more at 1.6450/60 with stops placed below 1.6420/30 n around 1.6400. On the upside, offers are reported in the region of 1.6560-80 with stops (sizeable) placed abv last week's 1.6587 high and around 1.6600. Traders are still focusing on the CBI distributive trades data to be released at 10:00GMT.
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