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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessSterling loses its shine as wage growth......>
FOREX: Sterling loses its shine as wage growth disappoints
-After touching fresh post-Brexit highs of $1.4377, GBP pulled back as wage
growth came in 0.2ppts shy of consensus. Despite the unemployment rate dropping,
the more benign outlook for wage growth took focus, pulling GBP/USD into
negative territory ahead of the NY crossover.
-The JPY and EUR are the strongest among the majors today with USD broadly
mixed. Newsflow and volumes remain light but the break below Y107 in USD/JPY
prompted a wave of greenback weakness which has flattered USD/CHF, EUR/USD and
AUD/USD but markets have taken some minor profit as US equity futures continue
to improve.
-CHF touched multi-year lows against both the USD and EUR this morning in the
absence of a safe haven bid as traders watch stocks in Europe and the US ebb
higher. EUR/CHF topped Chf1.19 for the first time since the SNB removed the
EUR/CHF floor in 2015.
-Near-term focus turns to the German ZEW Survey ahead of US housing numbers and
various Fed speakers.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.