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Broader base buying

  • Small pressure on the Aussie against the EUR and USD.
  • Likely a function of the EUR, pushing through session high versus CAD, AUD, NOK, USD, GBP, CNH.
  • EURUSD is through 1.1150 50-day EMA, and further momentum, will have market participants looking at 1.1200 next.
  • Note that there is 1.26bn at 1.1150 of option expiry
  • Bund is back below 157.00

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