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Recent relatively dovish Fed rhetoric.........>

FOREX
FOREX: Recent relatively dovish Fed rhetoric echoed in the Asia-Pac session,
with comments from the central bank's Vice Chair Clarida sending USD to the
bottom of the G10 pile. Clarida noted that weaker-than-exp. inflation means that
the Fed can afford to be patient & that if crosswinds for the U.S. econ persist,
policy should respond. Clarida also noted that the Fed shouldn't hesitate to
adjust its balance sheet roll off if needed. Subsequently, Clarida stated that
"it would not always be prudent to wait until global slowdown affects the U.S.
before responding with policy" in comments carried by RTRS. 
- AUD crosses spiked a handful of pips higher upon the release of firmer than
exp. Aussie Nov retail sales. However, initial effect faded away quickly. The
print might have been boosted by the Black Friday period. 
- USD/CAD has edged lower, after closing higher for the first time in 2019
yesterday, albeit this comes mostly on the back of dollar weakness. 
- Worth highlighting most major pairs have stuck to tight ranges thus far. 
- Focus today turns to U.S. CPI, UK output, GDP & trade balance data. Elsewhere,
ECB's Mersch & Visco are due to speak.

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