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FOREX: USD Demand Emerges into Month-End

FOREX
  • EUR/USD fades well off the highs headed into the London close and final WMR fix for July - potentially some USD demand evident into the fix, however the bottoming-out of US yields and slowing rally for US equities will likely also be helping. 
  • USD/CAD briefly shows below the 1.38 mark on the move, but momentum is short-lived - currency futures markets show an uptick in volumes from 1544BST onwards - the best activity of the session so far outside of the reaction to the ECI data at 1330BST. 

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