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Overnight Bid Re-Emerges Post-Data

FOREX
  • USD bid evident in early European hours begins to re-emerge after that US data, aided by the recovery in US 10y yields off the day's lows of 4.3615%. Move pressures GBP/USD and EUR/USD through the earlier lows, and helps USD/JPY print up at 149.37.
  • Last move in currencies sees comfortably the best volumes of the session so far, helping tip activity in EUR and JPY futures above average for this time of day.
  • Final UMich sentiment data for November due - markets may be more wary of this release given the unexpected surprise in the final October read (which saw 1yr inflation expectation revised up to 4.2% from 3.8%).
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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