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GBP weakness has crept in overnight, with.....>

FOREX
FOREX: GBP weakness has crept in overnight, with GBP/USD bears looking to force
a break of $1.3200, although there has been little in the way of news flow to
drive the move, perhaps some reversal of Tuesday's solid gains coming about on
the back of order flow in thin markets.
- THB provided the main point of interest overnight. USD/THB reclaimed THB30.00.
Analysts suggested that the break below the psychological THB30.00 level &
recent BoT comments may point to some intervention from the BoT, and could
trigger an unscheduled MonPol meeting/fresh measures to curb THB strength (next
MonPol meeting not scheduled until Feb 5). Back on Dec 18 the BoT noted that it
is evaluating the effect of recent measures implemented to fight THB strength &
will assess whether it needs to do more on this front.
- Markit (via PMIs) noted that "ASEAN manufacturing conditions continued to
deteriorate in Dec, albeit at the softest rate in the current 7-month sequence
of decline." USD/CNY was fixed a little stronger than exp., while the Chinese
Caixin m'fing PMI virtually matched exp, slowing a touch vs. Nov.
- Global m'fing PMI data headlines the docket on Thursday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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