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Fade in Yields Tips GBP/USD, EUR/USD to New Daily Highs

FOREX
  • Early NY trade sees USD tipped lower, as US participants happy to drag US yields off their weekly highs, in the first real price action of the session so far given the Japan holiday overnight.
  • Greenback's tick lower responsible for new daily highs in EUR/USD and GBP/USD, however both pairs remain short of the Thursday high and first intraday resistance.
  • GBP is now outperforming modestly despite a quieter start to the session and limited domestic newsflow - EUR/GBP has now shown below the weekly low of 0.8538, opening M/T key support layered between 0.8498 and 0.8493 and the Aug'23 low.

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