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Post-NFP Moves in CE3 FX Relatively Muted

CEE FX

The spike in the greenback and US Tsy yields on the back of the US payrolls report has seen CE3 FX reverse the majority of their earlier gains. The downtick in major equity indices is likely providing an additional headwind to broader risk assets.

  • However, despite the greenback still dealing close to its intraday highs, moves in EURHUF, EURPLN and EURCZK have been relatively muted. While EURCZK is still close to its highest levels of the day, EURPLN has returned back to pre-NFP levels near 4.60 while EURHUF last deals in the 387-388 range, down ~0.1% on the day.
  • Ranges across the region had already been narrow ahead of the data and remain so now, with previously noted technical levels still in play.

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