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-After a relatively quiet start to the........>

FOREX
FOREX: -After a relatively quiet start to the session in Europe, markets were
happy to sell the greenback in size as various Fed members stressed the FOMC's
policy flexibility should any economic downturn pick up pace. Firstly, Fed's
Bostic stated that "the next rate move could be up or down", with Rosengren
following suit: "Open to rate hike or a cut". The subsequent dollar weakness saw
the USD index touch the lowest levels since mid-October, with equities and
commodities benefiting.
-The oil rally persisted through European and US trading hours, with WTI crude
futures extending the rally from the Christmas lows to 24%. This helped underpin
further strength in NOK, CAD and AUD.
-NZD, however, is the strongest among the majors, allowing NZD/USD to show above
the 200-dma at $0.6800 for the first time since early December. Bulls eye a
close above here for the next leg higher.
-Fed chair Powell speaks Thursday as well as various other FOMC members, with US
weekly jobless data and French industrial production the calendar highlights.

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