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Sterling surges, Aussie abates -Antipodean....>

FOREX
FOREX: Sterling surges, Aussie abates
-Antipodean FX suffered further Thursday, with AUD and NZD trading well below
all other G10 FX. The USD's yield-influenced rally late Wednesday filtered
through to commodity and currency markets throughout the Asia-Pacific session,
pressing AUD/USD through the early-September lows of $0.7085 to touch the lowest
levels since early 2016. The lack of Chinese importer demand for AUD (many
mainland markets remain closed until Monday) hurt the currency further.
-GBP, alongside JPY, are the top performers so far, buoyed by reports that the
UK PM is planning to rapidly press a Brexit deal through parliament immediately
after the resolution of the exit plan. This could bring forward the Brexit
timeline to as soon as early-December for a clear-cut picture of post-Brexit
relations. GBP/USD is yet to trouble yesterday's $1.3023 print and US 10yr
yields touching 2011 highs overnight will make an approach difficult. USD/JPY
retreats from near 12-month highs, but remains comfortably above Y114.
-Focus shifts to US Factory Orders and speeches from Fed's Quarles and ECB's
Nowotny.

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