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As the US 10y approaches 3%, USD has..........>

FOREX: As the US 10y approaches 3%, USD has clearly been in demand this morning
with major currency pairs hitting key levels. The earlier break of Y108.00 in
Usd/Jpy has triggered demand from momentum type accounts to Y108.28 and holds
firm at the NY crossover. Stops are reported on a break of Y108.30 opening
offers at Y108.50. Eur/Usd holds at the base of its $1.2226-93 daily range with
key support seen at $1.2215/06 (Apr6 low, 100-dma). Gbp/Usd also holds heavy
falling through the April lows to $1.3958. AUD & NZD continue the downward trend
to print respective lows of $0.7634/0.7167. 

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