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News flow has been rather thin, but a.........>

FOREX
FOREX: News flow has been rather thin, but a degree of risk aversion has crept
into G10 FX space. The Antipodeans have lost ground and underperform in the
basket. JPY tops the pile as we type, after accelerating gains over the Tokyo
fix, which coincided with a drop in U.S. equity index futures.
- USD/KRW opened lower as it played catch-up to yesterday's USD sales. That
being said, the rate has ticked away from worst levels, as North Korea's pledge
to cut all communication lines with the South revived worries about tensions on
the Korean penninsula.
- Today's docket features Australian NAB Business Confidence, German trade
balance & final EZ GDP, while ECB's Rehn is set to speak.

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