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Cross Gains Tailwind From Firming EUR/USD

EURGBP
  • EUR/GBP trades at the day's best levels in early NY, showing just above the Monday highs to narrow the gap with the next upside level at 0.8588. The latest inch higher has confirmed a second session of higher highs and higher lows and further strength opens the next material level at the 0.8591 100-dma.
  • Cross is gaining support from the uptick in EUR/USD since the cash equity open, as the greenback finds scant support from the persistent run higher for the US 10y yield, which trades again at the best levels since November last year

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