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EGBs tick higher

CROSS ASSET
  • Few ticks up on the Reuters ECB source piece for EGBs in very low volumes.
  • The piece is still not very committing, keeping the door ajar on rate moves, FX and the EUR is unmoved.
  • For the Dollar, It is a positive start for the Greenback today, as market participants await Central Bank speakers at JH.
  • The SEK is the worst early performer, and the Scandies have been under considerable pressure of late.
  • Noted on Wednesday, that over the last Month Horizon, NOK was down 5.08% and the 4.91%, today they have extended to 6.18% and 5.91% respectively over that 1 Month period.
  • USDNOK has so far found some resistance at the 10.75 mark, printed a 10.7501 high according to Bloomberg.
  • USDSEK continues to trade at its highest level since November, but has also found some resistance ahead of 11.05 for now.

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