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The USD was stronger against most of its......>

FOREX
FOREX: The USD was stronger against most of its major counterparts, before it
gave back the bulk of its light gains through NY dealing, amid reports of light
volume.
- GBP underperformed on extended reaction to weekend press reports pointing to a
higher likelihood of a no deal Brexit scenario. GBP/USD touched 11 month lows of
$1.2920. GBP/JPY failed to break triple bottom support around Y144.05.
- USD/CAD touched highs of C$1.3040 after Saudi Arabia severed investment ties
with Canada, before a minor retracement in the USD saw the pair ease to
C$1.3000.
- EUR/USD recovered from pullback lows of $1.1530 to hold around $1.1550.
- Despite the CBRT tweaking its reserve requirement ratio lower to boost USD
liquidity by $2.2bn, TRY underperformed, with losses of over 3% against the USD
& EUR. USD/TRY touched all time highs of TRY5.4222, although recent reports now
point to Turkey & the U.S. reaching pre-agreement on "certain issues."
- Focus now turns to the RBA MonPol decision & China FX reserves data. 
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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