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Early Risk-Off Impetus Fades

FOREX

G10 FX space kicked off with the risk switch flicked to off, as e-minis faltered building on Thursday's poor showing from U.S. equities. Resultant moves have been unwound since, with JPY losing its earlier shine after briefly leading gains in the G10 basket. USD/JPY has recouped losses and trades near unchanged levels at typing.

  • That being said, the Antipodeans remain the worst performers among G10 currencies, albeit they have backed off worst levels.
  • USD/KRW gapped higher at the re-open, narrowing in on its 50-DMA. The rate failed to test the level and has trimmed gains since.
  • U.S. NFP report, Australian retail sales, German factory orders and Canadian labour market data headline today's data docket. Central bank speaker slate features ECB's Villeroy & Lane as well as BoE's Saunders.

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