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JPY and USD were the main beneficiaries in....>

FOREX
FOREX: JPY and USD were the main beneficiaries in the European morning.
-Despite the announcement of a German Grand coalition agreement, markets largely
priced this in as the broader USD theme pressured Eur/Usd to $1.2338. Cable
moved through $1.3900 on the move to print lows of $1.3873.
-The JPY pared light gains at the NY crossover, Usd/Jpy recovered back through
Y109.00 before fading ahead of Y109.40. The broader USD theme later emerged
after Senate leader McConnell announced a new US budget deal with gains
extending to Y109.68.
-Eur/Usd triggered reported stops through $1.2295/90, minor USD selling at the
WMR fix briefly reclaimed the $1.2300 handle but soon gave back gains with a
deeper reversal to $1.2246.
-Gbp/Usd failed to hold $1.3900, the broader USD theme pressured to $1.3849.
Aud/Usd too felt weight and touched pullback lows of $0.7817.
-As expected the RBNZ left its OCR rate unchanged at 1.75%.
-Main focus turns to the BOE tomorrow with the release of its rate decision,
minutes from the monetary policy meeting and quarterly inflation report. 

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