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Sterling slumps as UK sees the largest........>

FOREX
FOREX: Sterling slumps as UK sees the largest quarterly gain in unemployment
since 2013
-GBP and AUD sit at the bottom of the G10 table this morning, both dented by
data, as jobs figures saw GBP/USD sold down to $1.3928 and AUD lost out wage
indices and construction figures.
-The greenback is mixed against G10 but is gaining against the GBP, CHF and JPY
despite negative equity markets prompting a recovery in the haven currencies.
-EUR suffered initial losses as French and German manufacturing & services PMIs
missed expectations, but markets were happy to buy the dip and send EUR/USD back
to flat ahead of NY.
-SEK's bouncing back from being bottom of the pile yesterday to posting modest
gains this morning and is close to erasing all the inflation-driven losses seen
yesterday.
-Focus today is squarely on the FOMC minutes at 1900GMT and markets appear to be
gearing for a moderately hawkish release this evening. Ahead of that, US
manufacturing & services PMI and January existing home sales are also due.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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