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GBP inches to fresh recovery highs -Support...>

FOREX
FOREX: GBP inches to fresh recovery highs
-Support for GBP emanating from comments from EU's Juncker late yesterday fed
well into the Asia-Pac session and helped GBP/USD climb to a fresh recovery high
at $1.2582. With hopes of a deal becoming more baked in by October 31st,
near-term GBP implied vols have retreated slightly this morning.
-Following yesterday's unchanged SNB decision, CHF has had a second wave of
strength Friday morning, helping pressure EUR/CHF closer to 50-dma support at
1.0940. Sight deposits data due Monday will provide some colour on just how much
the currency's strength has been managed this week.
-Elsewhere, NZD is nearing in on the early September cycle lows at $0.6269 on
little news, with a break of the mark seen opening another leg lower. There's
little on the NZ calendar until trade data due early next week and the RBNZ rate
decision on Sep25 - although most analysts see unchanged rates.
-Today's calendar is bereft of major data releases, with just Canadian retail
sales and Eurozone consumer confidence on the docket. Fed's Williams, Rosengren
and Kaplan are due to speak as well as ECB's Visco.

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