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Rallies into WMR fix

EURO-STERLING

Having seen decent demand into the WMR fix, EUR/GBP is holding the late
gains, trading either side of 0.9075 on last check. Uptick in the cross
certainly slowed on approach into the Asia-Pac high at 0.9088, rising to touch
the mark before fading.

  • Month-end flows likely playing a part with much of the price action occurring
    at the fix, but near-term momentum will need to carry through 0.9088
    before first key resistance at 0.9135 is challenged.
  • Tonight's FOMC decision likely of less relevance for the cross, with focus
    resting on any further expansion of the UK's travel quarantine list after
    Spain was added earlier in the week and the ECB's Economic Bulletin
    due tomorrow.

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