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Defensive Feel Creeps In

FOREX

AUD is giving away some of its post-CPI gains in early trade, as a defensive feel creeps in. JPY is the most favoured G10 currency, with the greenback also trading on a generally firmer footing. Most major crosses have been happy to hug fairly tight ranges.

  • NZD/USD posted a modest knee-jerk higher as NZ Health Min Hipkins announced that the gov't won't be moving Christchurch to a higher Alert Level, in spite of the detection of two community Covid-19 cases there.
  • USD/JPY has been oscillating within a narrow range, with participants awaiting policy announcement from the BoJ.
  • The ECB are set to deliver their monetary policy decision today, which will be followed by a presser with Pres Lagarde. The data docket is headlined by German unemployment & flash CPI as well as U.S. GDP & jobless claims.
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