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EURGBP TECHS

Trend Signals Remain Bearish

GBPUSD TECHS

Holding Onto Recent Gains

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Today's A$1.0bn ACGB Nov '31 auction was easily absorbed, with the weighted average yield pricing 0.59bp through prevailing mids at the time of supply, while the cover ratio saw a modest uptick vs. the prev. auction of the line, printing comfortably above the 5.00x mark. The well-defined supportive factors coupled with a cheaper entry point on the back of the recent weakness in ACGBs outweighed any worries re: the future trajectory of yields.