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Slow trade in Asia continued through the......>

FOREX
FOREX: Slow trade in Asia continued through the European & U.S. sessions on
Monday with traders turning focus toward a data laden week, alongside month-end
Tuesday. Bank models have flagged up expectations for 'strong USD selling'
across the board at Tuesday's fixings, with position adjustments for this linked
to the USD's easing through the European & U.S. sessions.
- EUR/USD managed to edge above $1.17, clawing its way up to a high of $1.1719
with the underlying tone remaining buoyant through the US afternoon. Strength in
EUR/USD supported EUR/JPY which in turn left USD/JPY stuck in a tight range
around Y111.00.
- Cable was also pulled higher, though the rally faced counters as EUR/GBP also
lifted on possible month-end related demand.
- BOJ MonPol decision & Rinban operations outline for the month of August (due
in early European hours), China official PMI's, EZ flash Jul CPI, EZ Q2 GDP, US
PCE/Personal Spending and Income as well as Canadian GDP provide the risk events
on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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