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  • Upward pressure on equities weighing on the greenback in recent trade and notably over the WMR fix. This is putting a further bid in risk associated currencies.
  • AUDUSD (+0.85%) continues to lead gains in G10 FX in close proximity to its 100-day moving average.
    • An extension higher will focus in on the important break of 0.7314, Jan 13 high, which would cancel the short-term reversal pattern and resume the recent upleg.
  • Additionally, GBP gaining some traction, now above yesterdays highs at 1.3650, with the noted weakness in EURGBP contributing.
  • USDCAD continues to edge lower to towards yesterday’s lows following the Canadian inflation data at 1.2450.
    • As mentioned yesterday, the pair had a firm bounce from the 1.2448 support, 76.4% of the Oct - Dec rally. A move through this chart point would open 1.2387, the Nov 10 low.
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com
MNI London Bureau | +44 020 3983 7893 | jack.lewis@marketnews.com

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