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FOREX: Greenback improves for second session as Fed effect lingers
-The USD index rallied further Thursday, trimming the gap with multi-year highs
printed last week to just 0.5%. The firmer USD shrugged off weaker weekly jobs
numbers, but better factory orders and strong durable goods revisions lent some
support. Reports from China's Global Times suggesting US-China trade talks had
reached an 'impasse' elicited a risk-off response, which helped carry the
-GBP's reaction to the Bank of England rate decision was muted, despite Governor
Carney explicitly stating that insufficient hikes are priced into the curve. GBP
weakened against most others as market judge the prospects of a rate hike as low
while Brexit remains unsolved.
-NOK was comfortably the poorest performer in G10 as oil prices retreated
sharply and as Norway's manufacturing PMI fell well below forecast (twinned with
a negative revision).
-Focus turns to the April nonfarm payrolls report, UK and Australian services
PMI and Eurozone CPI estimates.