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Risk off leads cross assets

CROSS ASSET

Bund continues to extend higher, with Estoxx still falling.

  • All led by the Astra/EU debacle, on contract concerns.
  • Reflation unwind trades goes through in Indices.
  • Broad base Dollar buying on risk
  • EURUSD eye a test at 1.2100, now 1.2107.
  • Further extension higher in Bund, will open to 177.96 level.
  • Now a decent resistance area, forming a triple top, 14th, 15th and 26th of January high.

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