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EUR/USD touches multi-month lows, GBP.........>

FOREX
FOREX: EUR/USD touches multi-month lows, GBP bounce shallow for now
-GBP's bounce today has been unconvincing so far, with GBP/USD unable to make
further ground above $1.2750, but GBP remains at the top of the G10 table so far
today. The USD continues to look strong, with EUR/USD ebbing to the lowest
levels since August and eyeing the year's lows of $1.1301 at the NY crossover.
Markets watch for the any feedthrough from the Fed's SOMA operations today,
which today totals a liquidity drain of $22.9bln (second largest ever).
Historically, these operations have coincided with USD strength.
-Elsewhere, risk appetite is recovering somewhat in core European markets, with
equities up just over 1% across the board. This has failed to feed through to
currency markets, however, with JPY stronger post-rate decision and antipodean
FX weaker after slightly softer Australian CPI data overnight.
-Eurozone CPI numbers are up next (and prelim numbers show it could surprise to
the upside), followed by Canadian GDP, US ADP employment change and Chicago PMI.
Earnings season continues, with General Motors, Intercontinental Exchange, AIG
and Kellogg all due.

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