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Weekly outlook for GBP: Barclays

Quotes from Barclays Capital:

-The second release of Q4 GDP will be the main data print from the UK in the coming week. We expect GDP to be revised up to 0.6% q/q in Q4 2014, as better-than-expected December production and other incoming data should close the gap between the preliminary release and signals from surveys and other monthly developments.

-The first release of the breakdown is expected to show a robust contribution by domestic consumption (+0.4pp) and slightly positive contributions of investment, trade, and government consumption, while inventories are expected to contribute negatively. Given our expectations, we see some upside risks to GBP crosses in the coming week.

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