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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessAfter a buoyant start GBP was the main........>
FOREX: After a buoyant start GBP was the main underperformer in G10, currently
down 0.54%. Risk appetite at the European open lifted Gbp/Usd to $1.4243,
falling just short of yesterday's high. A sharp turnaround in GBP followed,
cable touched extended pullback lows of $1.4146, Eur/Gbp rallied to Gbp0.8790.
- Traders cited a number of factors behind the sharp GBP move this morning. RHS
EURGBP fix interest, month-end related flow and the announcement that Glaxo has
agreed to buy Novartis joint venture stake in a $13bn deal.
- Eur/Usd pared early gains to $1.2426, mainly driven by Eur/Jpy as risk was
taken off the table.
- Usd/Jpy encountered support overnight after Japan's former tax chief Sagawa
stated that Japanese PM Abe & his wife had no part in the Moritomo scandal. The
pair has range traded throughout Europe, last Y105.59.
- Aud/Usd tracked Eur/Usd and holds near the base of its $0.7718-58 range.
- Quiet on the calendar today with main highlights from Case-Shiller data at
1400GMT, Consumer Confidence at 1500GMT followed by Richmond/Dallas Fed survey's
at 1530GMT.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.