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Early (modest) risk-on flows ahead of.........>

FOREX
FOREX: Early (modest) risk-on flows ahead of European hours (that lacked a
headline catalyst) were quickly reversed. With weak German industrial production
(in lieu of yesterday's soft orders print), as well as a less than inspiring
German trade balance breakdown evident at the top of the hour, applying light
pressure to EUR.
- USD/JPY ran out of steam ahead of Y110.00 in early European dealing, after a
brief look above the figure overnight.
- NOK also trades defensively, albeit in a limited range in the wake of softer
than expected domestic GDP data.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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