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U.S. 10-Year yields breached their............>

FOREX
FOREX: U.S. 10-Year yields breached their month-to-date high, adding a layer of
support to the USD, limiting its losses overnight. Elsewhere the AUD was the
outperformer, in the wake of a strong Aussie labour market report, with the big
headline beat driven by full time jobs and a tick up in the participation rate
observed. However, AUD/USD's initial resistance, the July 16 high ($0.7442), is
seemingly limiting further AUD follow-through for the time being.
- Cable experienced a late, limited relief rally on a report that an extension
to the Article 50 deadline is being discussed in the backrooms of Brussels, as
MEPs & officials from EU member states weigh up plans to avoid a cliff-edge
Brexit (although the horizons touted vary). GBP/USD last $1.3080.
- The CNY was on the back foot, perhaps hindered by a report noting that the
PBOC has advised banks via "window guidance" to provide MLF funds for primary
dealers to support loan placement and bond investment, according to the 21st
Century Business Herald, citing financial professionals.
- USD/JPY edged lower, but ignored the latest adjustment to the BOJ's Rinban.
- Focus turns to UK retail sales & Fed's Quarles on Thursday.
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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