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Further modest dollar strength sees the......>

DOLLAR
DOLLAR: Further modest dollar strength sees the major pairs touch fresh lows. As
has been the case across Europe this morning, market moves are somewhat erratic
considering the slump in volumes associated with US and UK bank holidays.
Options volumes are running at around half the usual daily average with just
$5bln in EURUSD options contracts changing hands (vs. the usual $10bln you'd
normally see at this point in the session). Liquidity conditions likely to
worsen as the day continues as European markets drop out of the trading day.

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