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GBP loses shine after mixed UK data, USD......>

FOREX
FOREX: GBP loses shine after mixed UK data, USD firm
- Despite ongoing political uncertainty in the UK, short covering through Europe
saw GBPUSD improve +70 pips to briefly make a show above $1.3300. Headline GDP
came in-line with expectations supported by services and construction, but soft
Industrial/Manufacturing data took the shine of GBP. GBPUSD eased to $1.3240,
EURGBP comfortably holds above the 200-dma, last Gbp0.8852.
- EURUSD failed to consolidate early gains and slipped to the $1.1725/30 area
ahead of German ZEW data. Soft release on both economic sentiment and conditions
further pressured to extended session lows of $1.1715.
- USDJPY largely consolidated above Y111.00, held to a narrow 20 pip range. The
Y111.45/50 area provides a stern test which holds long term downtrend resistance
off the Nov 2015 high.
- The firmer USD has seen to weigh on commodity space FX, AUDUSD printed
$0.7434, NZD approaches $0.68 and USDCAD last at C$1.3140.
- Norway CPI came in above expectations which should keep the Norges bank
September hike live. EURNOK touched react lows of Nok9.3867.

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