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EUR/USD eats through offers to outperform.....>

FOREX
FOREX: EUR/USD eats through offers to outperform most in a quiet morning
-Despite geopolitical tensions boiling over this weekend, markets have remained
relatively quiet, with little action in the majors and a particularly light data
calendar. EUR/USD worked its way through touted offers layered between
$1.2350-60 to provide a welcome bout of price action, but most others trade
little changed.
-SEK's the best performer among the major as markets take a considerable profit
in EUR/SEK, which touched multi-decade highs just ahead of the close on Friday.
-NZD sits at the bottom of the table as AUD/NZD continues to recover from
multi-month lows printed on Thursday last week. Demand for JPY crosses ahead of
the Tokyo fix kept JPY weaker for much of the Asia session before being erased
well ahead of the European open. As a result, JPY trades pretty mixed at the
midpoint of the European morning. USD/JPY now sits between large option expiries
at Y107 and Y107.40 due for today's cut.
-Focus turns to US retail sales numbers due this afternoon, Empire Manufacturing
and speeches from Fed's Kaplan, Kashkari and Bostic.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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