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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI: FOREX: Dollar dumped as Europe carried the......>
MNI: FOREX: Dollar dumped as Europe carried the 'sell dollar' narrative amid
holiday-thinned trade.
-After USD/CNH touched a two-year low, European markets carried the theme and
pushed both EUR/USD and GBP/USD to fresh multi-year highs.
-Optimism on a German coalition deal and continued speculation the ECB will be
more hawkish this year (stemming from last week's ECB minutes) have driven
EUR/USD to a fresh three-year high at $1.2297.
-USD selling also flattering GBP/USD, but price action capped at resistance
ahead of the $1.3825 level.
-JPY trades mixed, but focus of USD/JPY was on touted bid interest ahead of
Y110.50, which held throughout the day before breaking and opening an extended
move lower for USD/JPY. Rate briefly touched Y110.34 before retracing.
-MLK Day market holiday saw US treasury and equity markets closed, so volume was
thin and liquidity hurt.
-Japanese PPI due overnight, with European session seeing the release of German
and UK CPI as well as US Empire Manufacturing.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.