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AUD/USD gained for the 7th time in 8..........>

FOREX
FOREX: AUD/USD gained for the 7th time in 8 sessions on Wednesday, with AUD
firmly at the top of the G-10 scorecard. AUD's initial rally in Asia spilled
through to the European & U.S. sessions, with AUD/USD bulls eying the 50-DMA
($0.7310). AUD dragged NZD/USD higher, with the Antipodeans also underpinned by
firmer metals prices.
- The tentative risk appetite dented safe havens, with CHF in particular
dropping sharply. The USD index slipped back below the 100-DMA, but remains well
anchored.
- UK CPI initially buoyed GBP, prompting GBP/USD to touch the highest levels
seen since July, but the gains were countered by reports in The Times suggesting
that the UK & EU are still at an impasse on the Irish border issue. Attention
shifts to the so-called Brexit summit in mid-November for officials in
Westminster and Brussels to strike a deal, with little GBP reaction to a
smattering of Brexit related headlines into the Asia crossover.
- Focus Thursday turns to NZ GDP, UK retail sales, as well as addresses from
ECB's Weidmann & Praet.
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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