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Equities Make Further Progress, Pressuring JPY

FOREX

Equities have started the week well, with European indices up just shy of 2% apiece. US equity futures are following suit after the flat close Friday, with the e-mini S&P higher by over 50 points at pixel time.

The counting of Presidential election ballots continues. The market is still paying some attention to Trump's legal proceedings, although traders appear to be continuing to price in a Biden White House from January onwards - with Trump's legal threats seen having little effect.

Equity progress has weighed on havens, with JPY the poorest performer so far today. CHF has also been weighed upon, with AUD, NZD and CAD outperforming.

The calendar's quiet Monday, with no tier one data due. The speakers slate could be a little more interesting, with the first FOMC comments due following last week's presser. BoE's Bailey, Haldane are on the docket as well as Fed's Mester & Kaplan and ECB's Mersch.

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