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The antipodeans edged lower with soft AUD.....>

FOREX
FOREX: The antipodeans edged lower with soft AUD data & the continued tumult for
the NZD evident. NZD/USD bears managed to force a break below $0.6300 & now look
to the downtrend support base of the range in play since June 2018.
- JPY looked through the latest batch of local data & the latest adjustment to
the BoJ's Rinban operations, which was widely touted. EUR/USD edged lower, and
sits a couple of pips above yesterday's low at writing.
- There was some focus on KRW, which traded on the front foot in early Seoul
hours, benefitting from the latest movements in the Sino-U.S. trade war &
stronger than exp. local ind. prod., which pushed USD/KRW below the 21-DMA. The
latest BoK MonPol decision saw the Bank leave its key rate unch. The divided
vote, which saw 2 arch doves vote for a cut, briefly pushed the rate back > the
21-DMA, before the rate faded to lows as the BoK Gov. pointed to a need to watch
developments & data, as he noted that there was some room in MonPol, but that
the effective lower bound was higher than what is seen in developed nations.
- Focus now turns to EZ CPI data, German retail sales, U.S. PCE & Chicago PMI as
well as Canadian GDP.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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