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Dollar flip-flops in generally quiet..........>

FOREX
FOREX: Dollar flip-flops in generally quiet morning
-As the Asia session concluded, markets were happy to bid up the greenback to
resume the strong dollar trend seen throughout yesterday's US session, but a
strong set of PMI numbers from Germany slowed proceedings and allowed EUR/USD to
briefly rise back above the $1.17 level. With little else for European markets
to follow this morning, the USD has moved back to flat and most G10 currencies
are directionless and wait for the US market's interpretation. 
-Asian FX was a slightly different story, with further weakness going through
the CNY. At the close of onshore trading, USD/CNY finished at the highest level
since June 2017 and offshore CNH markets are happy to follow. The CNY & CNH
weakness began in earnest as China's State Council issued further fiscal
measures to support domestic demand and stimulate growth. Chinese press
speculated that further PBoC easing is forthcoming through an increase in
low-cost and medium-term liquidity supply.
-Focus turns to US composite PMI numbers and the Turkish central bank's rate
decision, where further rate hikes are expected.

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