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***The USD Dollar fell sharply on Wednesday...>

FOREX
FOREX: ***The USD Dollar fell sharply on Wednesday following Trump's trade
tariff announcements. The pressure on equities picked up heading into the close
with markets clearly fearing counter-tariffs, as both Canada & the EU issued
rebuttals.
- USDJPY dropped well below reported demand at the Y106.50 level as safe haven
currencies rallied alongside the decline in equities and the dollar. 
- AUD & NZD last print around best levels vs. USD after an initial knee jerk
lower.
- Focus overnight will fall on the BoJ's Rinban operations & any WTO or Chinese
backlash against Trump's tariffs. Risk events tomorrow include Canadian GDP, and
it is also worth highlighting the potential for EUR position squaring running in
to the weekend with the Italian elections and the results Germany's SPD party
vote on the Grand Coalition.
- Friday has a number of notable EURUSD FX options rolling off at the 10AM NY
cut: $1.2000(E772mln), $1.2120(E1.74bln), $1.2150(E3.35bln),
$1.2200-10(E857mln), $1.2250(E2.98bln), $1.2300(E962mln)
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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