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Markets tread water ahead of key UK, US.......>

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FOREX: Markets tread water ahead of key UK, US risk events
-Ranges are tight, with little price action to report as markets look ahead to
key risks from the UK House of Commons tonight and the Federal Reserve tomorrow.
UK PM May's government will face amendments this evening at around
1900GMT/1400EST which may see her government hand over key decision-making
powers to parliament (and thereby preventing a 'no deal' Brexit) via the
Cooper-Boles amendment. GBP trades broadly flat but well off the lows printed
this morning, as early sales pressed GBP/USD down to $1.3130.
-NZD is the strongest performer in G10 so far Tuesday as December trade balance
figures surprised to the upside: New Zealand returned to a trade surplus of
N$264mln vs. Exp. N$150mln, helping buoy briefly back above $0.6850, although
yesterday's high of $0.6872 remains intact. JPY is the weakest as mainland
European equities recover, but price action is muted at best. 
-Other than the votes in UK parliament this evening, markets eye US consumer
confidence for January and a speech from ECB's Villeroy.
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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