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Edging Away From Lows


China Repo Rates Rise on Monday


In Line With The Broader Theme

EURO SUMMARY: Euro/dollar: European open $1.1635, range $1.1616-44, NY open
$1.1629, range $1.1575-1.1629 
*The release of better than expected US GDP saw the economy grow at 3% (EST
2.6%) witnessed the pair drop to fresh session lows of $1.1588.
*Pressure on eur/yen following US Tsys yields and Bunds falling in reaction to
events in Catalan, saw eur/usd follow suit with the rate dropping to fresh
session lows of $1.1579. 
*A sharp turn in the dollar as BBG reported "2 people familiar with Trump Fed
discussions have said he favors Powell". The rate jumped from its intraday low
of $1.1579 to recovery highs of $1.1617. 
*The dollar pared back losses post Fed Trump comments, as the market remembered
that WH sources stated yesterday that "Trump changes his mind everyday". This
combined with Catalan parliament declaring independence witnessed the rate drop
to fresh lows of $1.1575. *Profit taking in late New York trade, with the dollar
slipping. The rate grinded towards $1.1615 before sliping towards $1.1605 at the