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Rate stages a somewhat delayed reaction, but...>

EURO
EURO: Rate stages a somewhat delayed reaction, but a reaction nonetheless, to
earlier German issuance headlines, catching up with the sharp move in German
bond markets. EUR/USD surged north of $1.12 alongside an uptick in global equity
markets. S&P futures now sitting close to the day's best levels just ahead of
the cash open in 20 minutes.

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