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The CAD has outperformed after a report.......>

FOREX
FOREX: The CAD has outperformed after a report suggested that US President Trump
is planning to offer Canada & Mexico a temporary exemption from new tariffs on
steel and aluminum imports, which allowed USDCAD to move onto the 1.28 handle.
The USD is broadly unchanged elsewhere as markets await the next catalyst.
- The ECB MonPol decision will provide the main area of interest on Thursday,
with watchers on the look out for any shift in rhetoric/tone.
- EURUSD remains above 1.2400, with cable above 1.3900.
- USDJPY has operated around 106.00 for the entirety of the Asia-Pacific
session, capped by short term resistance at 106.26. In terms of FX options
expiries for the 10 AM NY cut on Thursday, the most notable in play for the pair
is the $1.06bln worth of 106.00 expiries.
- The Turkish Lira has been under pressure following a 1 notch downgrade at
Moody's, although USDTRY was unable to breach Wednesday's high.
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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