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CEMEA FX Rallies as US NFPs Underwhelm

EMERGING MARKETS
  • USD/TRY notches sharply lower following US NFPs, paring the initial post-CPI weakness to return below 8.30, but falling just short of yesterday's swing lows
  • USD/ZAR also moved lower following the data and is now holding a fraction below the 100dma and yesterday's swing low
  • USD/RUB takes the cue from the weaker USD, moving below yesterday's lows to approach the 75.50 level. Close below 72.655 is a bearish development for the cross opening up the June lows at 71.55
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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