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-Most (but certainly not all) major pairs.....>

FOREX
FOREX: -Most (but certainly not all) major pairs trade well within recent ranges
despite some attempts in GBP/USD and EUR/USD to break out. A bank holiday in the
UK kept volume and liquidity thin with newsflow remains largely ineffectual
among G10 pairs. Beyond DM FX, however, emerging markets are keeping traders
busy. The MXN drew the most attention throughout the day, advancing on weekend
reports, later confirmed by sources, pointing to an imminent bilateral trade
deal between the U.S. & Mexico. This contrasts with the ZAR and TRY, which both
suffered Monday on little new news, allowing USD/TRY to re-test last week's
highs.
-CAD tells a slightly different story, rallying through 1.30 support against the
USD as a NAFTA deal appears closer than ever.
-Attention shifts to US trade balance data and consumer confidence numbers for
August.

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