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The USD consolidated the bulk of..............>

FOREX
FOREX: The USD consolidated the bulk of Wednesday's gains, after Tsy yields
consolidated, while Moody's affirmed the US' AAA rating.
- AUDUSD has added 15 or so pips to deal at ~0.7580, with AUDNZD adding a
similar amount of pips to trade around 1.0715. AUD demand reportedly stemmed
from domestic hedging interests.
- NZDUSD trades flat at 0.7070, after the cross recorded a 7th consecutive daily
loss on Wednesday, printing below 0.7100 for the first time since January. It
would seem that the recent sell off has resulted in the emergence of some
corporate demand, while some short-term indicators have moved into oversold
territory.
- USDJPY is 10 pips lower at 109.35, although the JPY has underperformed against
the remaining majors. Fitch affirmed Japan's A rating, while Japanese PM Abe
stated that he wasn't considering a snap election.
- GBPUSD & EURUSD lodged modest gains. USDCAD shrugged off comments from BoC Gov
Poloz, which offered little fresh insight.
- Traders now await Thursday's ECB MonPol decision.
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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