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Traders fade early risk-off, USD the big......>

FOREX
FOREX: Traders fade early risk-off, USD the big winner
- JPY outperformed in Asia amid escalating trade fears, USDJPY briefly traded
through the 55-dma to Y109.37, AUDJPY dipped under Y81.00, EURJPY challenged
Y128.00.
- With price action similar to yesterday's open, European traders faded the Asia
risk-off theme which saw the JPY pare light gains.
- Broad-based USD demand emerged amid firming UST yields. The move pressured
EURUSD back under $1.1700, before finding a base at $1.1670. Its worth noting
there are $8.6bn worth of option strikes maturing tomorrow through $1.1600-90
which could anchor.
- GBPUSD held near the bottom of its $1.3256-92 range as attention turns to BoE
McCafferty's speech following his recent hawkish stance. Comments from Haskel
also viewed important to see which side of the fence he sits on. 
- Commodity based currencies continued to struggle. NZD sits at the top of the
leaderboard with losses of 0.39% against the USD, last $0.6875, AUD & CAD not
far behind at $0.7404/C$1.3299. Gold printed fresh YTD lows of $1257.89.

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