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JPY, CHF higher despite modest recovery in....>

FOREX
FOREX: JPY, CHF higher despite modest recovery in EMFX
-Safe haven currencies, namely the CHF and JPY, are top performers in G10,
though price action is limited, with few drivers to push markets in either
direction. After a sharp sell-off in EMFX this week, TRY, MXN and ZAR all trade
slightly higher, but still have a long way to go before recent damage is
repaired.
-As a result, DXY is a  touch lower, but trades well within yesterday's range.
The 50-dma remains key resistance at 95.010, with the 94.017 100-dma providing
support.
-AUD is the poorest performer after the RBA's corporate plan highlighted high
domestic debt levels and the complications this could have for future policy
decisions. AUD/USD traded within 35pips of the year's $0.7203 lows.
-EUR trades broadly flat despite EZ CPI dropping below forecast: 2.0% vs. Exp.
2.1%.
-Focus turns to Chicago PMI, Michigan revisions and any update on
US-Canada-Mexico trade negotiations.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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