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-Sterling is the top performer among the......>

FOREX: -Sterling is the top performer among the majors for a second session,
extending the recovery from the dour performance posted Friday. Tellingly,
Tuesday's GBP/USD high is well over 100 pips shy of the best levels of last
week, showing the pair still has further to go to repair the short-term picture.
Nonetheless, reports suggesting UK PM May remains supported by her Cabinet was
enough to prompt further dip-buying.
-JPY fell against most others, with positive equity markets in both Europe and
the US helping buoy risk sentiment. CHF mimicked the price action, weakening
from the NY crossover onwards.
-EUR sits slightly firmer despite the ECB's Chief Econ Praet talking down
Draghi's hawkish tones in Brussels yesterday. The moves come as the USD
disconnected further with interest rates: US 10yr yields neared the highs of the
year once again.
-Wednesday sees the Fed rate decision, with another 25bps hike expected, with
Fed's Powell holding a post-decision press conference.

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