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US TSYS SUMMARY

Inflation Concerns Underpin Bear Steepening

AUDUSD TECHS

Bullish Theme

EURJPY TECHS

Firm Within Its Bull Channel

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Total exports to the EU, excluding non-monetary gold and other precious metals, rose sharply in February, up 46.6% on the previous month, recovering in part from the first month of Brexit/pandemic double hit, according to data published by the Office for National Statistics on Tuesday. However, overall exports were still 15.2% below the December 2020 pre-end of transition period.

Imports also recovered somewhat, although at a much slower pace, up GBP1.2 billion or 7.3% following a large GBP6.7 billion(-29.7%) fall in January. Imports remain 24.5% below the December levels, the ONS said.