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GBP slips after strong start -A somewhat......>

FOREX
FOREX: GBP slips after strong start
-A somewhat quieter morning for currencies, with most major pairs holding within
recent ranges. GBP/USD outperformed throughout Asia, touching multi-week highs
at $1.3258 before pulling back through technical support and cementing the drop
towards $1.32 support which holds for now. As a result, GBP sits toward the
bottom end of the G10 performance table, along with the JPY and CHF, which
slipped alongside the modest recovery in core European equity markets.
-Scandi FX outperforms once again. Both NOK and SEK are the best performers so
far today as both received inflation-triggered injections of support over the
past few days - an effect that continues to be felt this morning.
-USD trades mixed, with traders awaiting the US equity response after a few
volatile sessions. Equity futures are modestly higher in early trade, with US
Treasury yields also heading back toward the 3.2% level.
-US import/export price data crosses at 1330BST, followed by Uni. of Michigan
confidence survey for October following. Fedspeak due today includes Fed's Evans
and Bostic and ECB's Draghi appears at the IMF conference in Bali Saturday.

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