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Greenback Selling Picks Up Pre-CPI

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  • Another spell of pre-CPI greenback selling puts EUR/USD, GBP/USD at fresh session highs at the NY crossover. Currency futures show a pick-up in volumes and activity on this latest move, with over 1000 contracts trading in EUR/USD futures on the way higher (that's around $130mln cash equivalent).
  • EUR/USD spot now through yesterday's highs and making headway toward the 50-day EMA topside level of 1.0331.

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