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FOREX SUMMARY

FOREX
  • G10 FX continues to trade within ranges, but USD has seen better buying since the EU Equity cash open, as indices drifts lower on the opening bell.
  • USD is outperforming against most G10s, and most against risk tied AUD, up 0.4% versus the latter.
  • Safe haven FX, CHF and JPY are holding onto gains, taking their cues from the risk sentiment.
  • Norges Bank left their rates unchanged, as expected by most Economist, but NOK came under some pressure.
  • Norges Bank::"The policy rate forecast implies a rate at the current level over the next couple of years, followed by a gradual rise as economic conditions normalise."
  • EURNOK now eye a test at last week's high at 10.6013, now at 10.5850 at the time of typing.Philippines
  • BSP kept their rates unchanged at 2.25%, as expected, with the CB noting that inflation environment remains benign.
  • USDCNH tested low of the day, following news that US-China have agreed to holds talks in the coming days.
  • USDCNH printed a 6.9105 low, now at 6.9164.
  • Looking ahead, ECB minutes, US Jobless, BoC Beaudry and Riksbank Skingsley are the highlights.
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