EUR Under Pressure On Crosses,GBP Soars

0805 GMT [Dow Jones] The dollar has slipped overnight while the euro came under pressure as Greece continued to weigh. Sterling soared with support coming from M&A and Goldman Sach's call that the UK will have stronger growth than any other major economy next year. GBP/USD printed a one-month high of 1.6439 while EUR/GBP sank to a 4-month low of 0.8763. China upped the yield on its 1-year benchmark bill by 8bp, the second such move in a week. That helped JPY shrug off Japan Airlines woes and pushed it to near one-month highs against USD and EUR. Tuesday macroeconomic data include UK retail sales and Germany's ZEW. UK data are expected to come in strong, Germany's weak so the overnight move in EUR/GBP may have further to travel. (GST)

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