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The USD stages a mini recovery through........>

FOREX
FOREX: The USD stages a mini recovery through Europe.
-Despite the overnight release of weaker-than-expected Japan Q4 GDP data, the
soft USD tone was the overriding theme.
-Usd/Jpy moved through the Y107.00 support area to fresh 16-month lows of
Y106.84, before a late rally in Japanese equities recovered to Y107.25/30.
-Consolidation initially remained the theme in early Europe, before firmer UST
yields/DXY triggered a mini USD recovery to Y107.52.
-Eur/Usd extended its recovery off Tuesday's pullback low ($1.2206) to $1.2392
in Asia, but soon faded. As recovery efforts held shallow in Europe, the
generally stronger USD added weight to $1.2351. EMU GDP came inline with
expectations and failed to react.
-Following yesterday's firm UK CPI, MNI PINCH and other surveys from BBG & Rtrs
now suggest the BOE will be looking to hike in May. Cable tracked Eur/Usd with a
move back under $1.3900 to $1.3855.
-Riksbank left rates on hold at -0.5% as expected, however did slightly
downgrade inflation forecasts for 2018. US CPI/Retail Sales at 1330GMT. 

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