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Europe and Asia sell the USD as trade.........>

FOREX
FOREX: Europe and Asia sell the USD as trade tensions soothe
-EUR/USD's now erased just under 50% of the ECB-inspired weakness seen since
last Thursday, making light work of the resistance at the Jun19 high to top
$1.1650 on strong French and German PMI numbers. As a result the USD's having a
tough day, with traders highlighting the bearish engulfing candle on the DXY
daily chart also. The dropping USD and JPY is helping lift sentiment after a
weak day for equities yesterday, pulling European indices higher in the early
hours.
-GBP/USD remains well supported following the BoE decision yesterday,
accelerating through $1.33 for the first time since June 14. $1.3403 appears to
be the next target, marking the 23.6% retracement from the April high to June
low ahead of the 200-dma at $1.3601.
-AUD and NZD continue to bounce after touching multi-month lows this week, as
markets consolidate the overriding weakness seen since April.
-Canadian CPI is the sole highlight on the calendar, with central bankers and
policymakers taking Friday off after a busy week.

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