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The Pound falls

CROSS ASSET
  • Further downside continuation for the Pound, with a delayed reaction after the Retail miss this morning.
  • The Pound saw broad base selling, just ahead of the SONIA open.
  • The SONIA rate strip opened in negative territory, and has now recovered and in Green territory, up 2/2.5 ticks in the SONIA strip.
  • The latest continuation, look to be USD driver now, with CHF, AUD, CAD, EUR all testing session lows.
  • Next support for Cable is seen at 1.2933 Low Nov 5 2020.
  • DXY test session high, despite some buying in Equities, with Estoxx (VGM2) back above 3800

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