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Most G10 FX pairs have stuck to tight.........>

FOREX
FOREX: Most G10 FX pairs have stuck to tight ranges in Asia-Pac hours.
- AUD/USD saw an uptick on the stronger than exp. headline job additions in the
latest monthly AU labour mkt report. The unemployment rate edged up, as exp.,
with the participation rate also ticking higher. The initial knee jerk gains saw
AUD/USD capped by $0.7200, before more focus was placed on the Q1 NAB biz
survey, which saw headline biz conditions slip into -ve territory for the 1st
time since '12, with the text of the survey proving to be less than inspiring.
- AUD/NZD lacked follow through above NZ$1.0700, with NZD/USD mimicking AUD/USD
- USD/CNH has edged away from Wednesday's session lows, adding over 100 pips to
reclaim CNH6.6900, but the pair still trades well shy of pre-China GDP levels.
- Very limited JPY & CHF demand was noted in the NY-Asia crossover on reports
that North Korea has tested a "tactical weapon."
- The BoK left its key rate unch., as exp. USD/KRW then edged higher as the Bank
trimmed its CPI & GDP outlook, and expressed continued concern re: the level of
h'hold debt. The Bank removed the wording re: further policy adjustment from its
statement, but Gov. Lee reiterated that it isn't the time to consider rate cuts.
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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