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Single Currency Slippage Extends, Putting EUR/USD at Fresh Lows

EUR
  • EUR slippage extending in recent trade alongside the drop in equities as well as global yields - the US 10y yield has just shed over 5bps in as many minutes, mirroring the move in the e-mini S&P future.
  • New lows for EURUSD printed at 1.0666, below the Tuesday low. Move lower in the single currency reflected in rate hike expectations: Terminal ECB rate hike expectations drop through Tuesday's 3.60% close, now 3.52% for October - down from a high of 3.89% today. Was as low as 3.08% yesterday.

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