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A generally stronger Usd Monday, though.......>

FOREX
MNI (London)
FOREX: A generally stronger Usd Monday, though seen more of a paring back of
losses seen last week than a trend reversal. UST yields popped higher in Asia,
10-yr edged to 2.68%, which in turn attracted Usd demand which took Usd/Jpy to
Y108.99, off a low of Y108.51, while cable was pressed down to $1.4110. Eur
however seemed fairly resilient to the Usd buys, though rate did see a low of
$1.2385 in Asia it spent most of the session back above $1.2400. Early stop
hunting in Europe allowed Usd/Jpy to edge to Y109.06, while Eur/Jpy targeted
stops above Y135.30 before it topped out at Y135.34. Eur/Usd slipped back to
$1.2388 in Europe but again met decent support between $1.2390/85 before it
recovered back above the figure. Overall session so far seen fairly subdued
ahead of what looks set to be a busy week. Trump State of the Union talk Tuesday
to be followed by Yellen's last FOMC policy decision Wednesday(no change
expected but pointers toward a March hike in focus). EZ Flash CPI also due
Wednesday along with expected month end flows. Model predict Usd sales to be
seen. Friday brings US Employment Report, AHE again seen of more interest over
NFP.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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