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Strong NZ jobs data boosted the Kiwi in.......>

FOREX
MNI (London)
FOREX: Strong NZ jobs data boosted the Kiwi in local trade but general Usd
strength was able to counter. Usd/Jpy demand into the Tokyo fix lifted rate to
Y113.90, the Japanese currency under pressure as well as market reacted to a
report in Kyodo News suggesting PM Shinzo Abe to order extra budget at today's
cabinet meeting. Relatively slow trade through Asia which carried across into
Europe. Sterling retained its underlying buoyant tone as traders adjusted
positions ahead of Thursday's BOE MPC announcement (88%-90% priced in for a 25bp
rate hike). Stronger than for3ecast UK Mfg PMI data added to sterling strength
as cable extended highs to $1.3321, while Eur/Gbp eased to Gbp0.8737. Eur/Usd
slightly extended its Asian high to $1.1657 in Europe(Asia $1.1626-55), settled
back at $1.1635 late morning. Usd/Jpy eventually made a show above Y114.00,
touched Y114.02 but was quickly rejected back below where it has held. However,
underlying tone remains buoyant. Aud crosses have supported Aud/Usd through the
European morning. US ADP (ahead of Friday NFP) and FOMC the interest into the
afternoon. Thursday brings BOE MPC with US Trump expected to announce the new
Fed Chair.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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