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Fresh 2-month high for GBP/USD -After a.......>

FOREX
FOREX: Fresh 2-month high for GBP/USD
-After a strong session Tuesday, GBP/USD added to gains Wednesday morning,
edging the price above last week's (and multi-month) highs of $1.3001. GBP's
Brexit risk premium was soothed somewhat by better jobs and wage figures
yesterday and the ongoing raising of expectations for a possible extension of
Article 50 and a delay to the UK's departure date from the EU. The rally through
the 1.30 handle brings the $1.3068 200-dma into contention.
-JPY is the weakest in G10 as markets trim the gains seen since the beginning of
the week, but it doesn't mark a solid return of risk appetite (evident in
EUR/JPY sticking well within the recent range). The Bank of Japan's unchanged
rate decision saw inflation targets revised somewhat, but had little lasting
impact. NZD outperforms on better-than-expected CPI data, helping buoy NZD/USD
back above the 200-dma as the rally falls just shy of the 50-dma at $0.6796.
-UK CBI trends data takes focus from here, with Canadian retail sales, Eurozone
consumer confidence and US Richmond Fed Manuf. numbers also due. Speaker slate
remains quiet with the Fed in a blackout period.

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