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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessFX markets risk-off on extended react to......>
FOREX: FX markets risk-off on extended react to the Fed's dots
- Risk-off was the overriding theme through NY on extended react to the Fed's
dots (3 hikes planned in 2018, consensus among many was 4). A sharp fall in
equities saw Jpy crosses bare the brunt adding weight across the board.
- Usd/Jpy pressured on the move touched Y105.26, stalling just shy of the YTD
low at Y105.25. EUR and AUD touched pullback lows of $1.2286/$0.7687
respectively. Equites made steady progress (but still down +1%) adding to risk
which saw minor recoveries off the low.
- As expected the BoE left rates unchanged at 0.5%, but the 7-2 split deemed as
hawkish triggered renewed GBP demand through $1.4200 to $1.4219. The move
pressured Eur/Gbp to fresh 9-month lows of Gbp0.8668.
- However, with a May hike priced in (MNI Pinch 88%) traders faded the move. The
risk averse tone led by Gbp/Jpy was seen to weigh which saw a sharp reversal in
Gbp/Usd to $1.4076.
- Usd/Cad recovered off early March lows of C$1.2830 back through C$1.2900.
- Canadian CPI/Retail Sales, US Durable Goods/New Home Sales due tomorrow.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.