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The dollar continued its decline in...........>

FOREX
FOREX: The dollar continued its decline in Asia-Pac trade on Thursday, feeling
the after effects of US Tsy Sec Mnuchin comments that a weaker USD presents
trade opportunities, informally endorsing the decline in USD and seemingly
backtracking on the "strong dollar" policy from the Trump administration. Market
will look ahead to a scheduled speech from Mnuchin at the Davos World Economic
Forum Thursday (0900GMT) where he could seek to clarify his comments after the
USD saw the worst single day decline since March 2017.
- The move saw a bid in EUR/USD and GBP/USD, the latter briefly rising above
1.43, touching 1.4305 the highest since June 2016, before dropping slightly yo
1.4292 last. The euro has benefited from dollar weakness, but seen fairly quiet
trade ahead of the ECB meeting today.
- USD/CAD some 41 pips lower at 1.2306, succumbing to dual forces of weaker USD
and stronger CAD as Brent rose above $71/bbl to the highest since Dec 2014.
- NZD plunged after weak CPI data, but has recovered around half the drop,
NZD/USD at 0.7380 last. The decline in tradable inflation points to a
hold-for-longer monetary policy stance from the RBNZ.

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