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After an unchanged ECB rate decision & a......>

FOREX
FOREX: After an unchanged ECB rate decision & a limited subsequent press
conference, markets resumed their recent trade of buying the dollar alongside
the Wall St. open to bring EURUSD & GBPUSD down from the day's highs. The USD
rose against the majors ex. JPY, despite a pullback in US 10-Year yields which
closed below 3.00%.
- EUR rallied to highs ~1.2210 as the Draghi's press conference initially
appeared somewhat upbeat, but quickly reversed course as the ECB President
highlighted signs of Eurozone economic weakness in Q1. A full 100 pip reversal
to lows of 1.2096 followed before the cross edged back above 1.2100.
- The SEK was the poorest performer after the Riksbank once again pushed back
its plans for policy tightening until the closing months of 2018. EURSEK printed
fresh 9 year highs.
- The BoJ MonPol decision headlines in Asia-Pacific hours, with US & UK Q1 GDP,
US PCE, ECB's Mersch & Lautenschlaeger and BoE Gov Carney & Haldane due on
Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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