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- Antipodean FX continued its appreciating trend on Wednesday amid a slightly weaker dollar index. Positive risk sentiment continued to filter through to risk-tied FX with both AUDUSD and NZDUSD rising over 0.5%.
- NZDUSD completes a six-day winning streak which has seen the pair extend through the September peak to print fresh four-month highs above 0.7200. Further strength will bring the May highs at 0.7316 into focus.
- GBP had a fairly volatile session and saw a strong bounce off the lows throughout the latter half of Wednesday. Initially, a lower-than-expected CPI print prompted steady selling during European hours down to a low of 1.3742. However, dip buying proved powerful enough to reverse all the way to session highs above 1.3830 and keep the bullish theme intact. The recent break higher opens 1.3913, Sep 14 high.
- In emerging markets, USDTRY fell close to 1% after failing above 9.35 for the second consecutive session. Potential profit taking in play ahead of tomorrow's CBRT decision where the consensus expectation is for the central bank to cut rates by 100bps for the second consecutive meeting amid considerable background political pressure.
- US data on Thursday includes Philly fed Manufacturing Index alongside Initial Jobless Claims which should precede comments by Fed's Waller. Capping off Thursday schedule will be RBA Governor Lowe due to participate in a panel discussion.