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The USD consolidates Asia/Europe gains to.....>

FOREX
FOREX: The USD consolidates Asia/Europe gains to hold in narrow range trade.
- The underlying USD bid tone through Asia/Europe spilled over into NY. Usd/Jpy
lifted to extended session highs of Y107.38, before fading. Near-term tech
resistance is seen at Y107.40/43 (23.6% Y113.39-105.55/38.2% Y110.48-105.55).
- Despite the strong USD gains, Gbp/Usd reclaimed the $1.40 handle following
release of a Business Insider article that said the EU Parliament is to call for
'privileged' Single Market access for the UK post-Brexit. Minor pullback
encountered fresh dip buyers with a move to $1.4025 as traders noted of model
sell interest at $1.4040.
- The firmer USD pressured both the EUR and AUD to $1.2320/$0.7880 respectively,
before minor recoveries witnessed modest gains. Mixed German ZEW survey
(stronger Expectations countered by soft Current conditions) failed to react.
- Soft Swedish CPI saw Usd/Sek advance throughout the session to Sek8.1028, but
later gave back some gains, last Sek8.0930.
- Immediate focus turns to Australian Wage data tomorrow at 0030GMT, UK Labour
Market data at 0930GMT, followed by the FOMC minutes at 1900GMT.

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