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NORTH KOREA

Another Missile Launch

JGB TECHS

(Z1) Bearish Trend Condition

AUD

Finished Higher, Held Below $0.73

FOREX
FOREX: After a night of volatility triggered by Gary Cohn's departure,
Wednesday's European and US sessions were far quieter with most major pairs
sitting around unchanged levels.
- The JPY began European dealing on the front foot but moved back to near
unchanged levels vs. USD as equities recovered & we operate at 106.15 in early
Asia-Pacific dealing.
- Commodity currencies had a tough day with metals, oil and agricultural
commodities falling pretty sharply. The Bank of Canada kept rates unchanged, in
line with expectations, although it sounded a little more cautious on the
outlook for trade. USDCAD failed to break above the 1.30 with talk of tariff
carve outs for Canada & Mexico allowing the CAD & MXN to recover, while NZD &
AUD pared their respective losses vs. USD.
- GBP traded higher on little news, with an acceptable transition deal for the
EU & UK still somewhat of a pipedream, although cable has surpassed 1.3900.
- The EUR was relatively range bound, as focus turns to tomorrow's ECB rate
decision, with participants on the lookout for any tweak in the ECB's language.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com