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Despite the release of soft German......>

EURO-DOLLAR
EURO-DOLLAR: Despite the release of soft German Saxony CPI (1.3% Y/Y - Below MNI
Pan-German Survey 1.5%), stronger Spanish CPI has seen Eur/Usd squeeze to fresh
daily highs of $1.2346. Reminder that there is large optional-expiry interest at
$1.2350 to the value of E1.16bn for today's NY cut. Rate eases at typing, last
$1.2340.

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