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Risk aversion remains the key driver into.....>

FOREX
MNI (London)
FOREX: Risk aversion remains the key driver into European trade, the earlier
sales of TRY/JPY by the Japanese retail community suggested as the catalyst. JPY
remains the main beneficiary of this move away from risk with USD/JPY extending
its corrective pullback away from Tuesday's high of Y111.40 to Y110.20. The miss
in France flash composite PMI added weight to the pullback in EUR/JPY, the
effect of which is seen weighing on other JPY crosses. Market awaits German
flash PMI on the half hour ahead of EZ data at 0800GMT. RBA Lowe to give speech
in Sydney at 0800GMT. UK CPI at 0830GMT then in focus.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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