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Markets were happy to buy the USD on..........>

FOREX
FOREX: Markets were happy to buy the USD on Thursday after five consecutive
sessions of declines as political risk marred AUD & GBP. The dollar index's
failure to close below the 50-DMA appears to have marked a near-term bottom,
helping the index to rise back above 95.50.
- AUD/USD suffered as political risk proved too much, as attention remains
challenges against Turnbull's leadership. Markets seem intent on pushing AUD/USD
to re-test YTD lows ($0.7203).
- Similarly, markets suffered from indigestion upon the release of the UK's no
deal Brexit preparation papers, allowing EUR/GBP to comfortably recover back
above the 0.90 level. Although, combative Italy headlines dented the EUR in late
trade.
- JPY failed to benefit from safe haven flow despite negative global equities,
with JPY close to the middle of the pack. USD/JPY recovered back above the
50-DMA.
- Jackson Hole takes focus Friday, with Japanese CPI and German GDP also due.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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