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Mostly in the red in early trade

USD
  • USD remains in the red into the European Govie open.
  • The early mover, not too surprising is the SEK following the CPI beat this morning.
  • The SEK is the best performer in G10 versus the USD, up 0.61%, and market participants will have likely changed their rate hike outlook, with some local desk now eyeing earlier hike and QE cut, towards and end of Summer for QE and 3rd Quarter for hike.
  • USDSEK support is at this week's low, 9.2461

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