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EUR garnered attention on Monday,.............>

FOREX: EUR garnered attention on Monday, underperforming at the NY crossover,
then rising during an appearance by ECB President Draghi, who stated that he
sees a "relatively vigorous pick-up in underlying inflation." The comments saw
EUR/USD briefly show above $1.1800, before fading to $1.1750. Some noted
Draghi's comments were justification for the ECB's most recent econ projections,
as opposed to fresh information or identification of a recent trend.
- GBP/USD was the firmest among the G10, aided by M&A flows, although GBP/USD
failed to rally through the 50% retracement of Friday's price action ($1.3166).
- AUD & NZD failed to recoup their Asia-Pacific losses, stemming from the latest
U.S.-China trade rift, with the effect exacerbated by profit taking after last
week's Antipodean rally.
- USD/TRY finished the session lower, although off of lows that came on the back
of comments from U.S. Sec. State Pompeo who expects talks with Turkish officials
this week to discuss Pastor Brunson.
- Attention Tuesday turns to BOJ July meeting minutes, speeches from BOJ's
Kuroda, BoE's Vlieghe & various members of the ECB.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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