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Early action is in Rates and Govies

CROSS ASSET

Some large reversal in the Euribor strip with the ERM2 to ERH3 the most interesting part, as rate traders price rate hike outlook.

That part of the strip has pulled back 6 to 7 ticks, while Bund consolidate 60 ticks.

All of the early action is in Govies and Rates.
USD is on the margin bid against most G10s, helped by higher yields

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