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EUR Pops, Bunds Slip as Spain CPI Posts Big Beat on Expectations

DATA REACT
  • EUR/USD sees an immediate pop on the back of the higher-than-expected Spanish CPI - adding around 20 pips from 1.0860. The rally remains shy of overnight highs at 1.0879 at present, but a break above would open Friday's 1.0900.
  • Core EU FI similarly comes under pressure, with Bund futures dropping to new session lows of 136.99. Friday lows at 136.88 now come into play.

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