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USD/CNH's move back above CNH6.7000 after a...>

FOREX
FOREX: USD/CNH's move back above CNH6.7000 after a brief foray below saw AUD/USD
& NZD/USD off of highs around the release of in-line with exp. Chinese GDP data,
coupled with a softer than expected Chinese industrial production reading. - The
JPY crosses had a couple of notable moves, one in either direction, but lacked
any real conviction against a backdrop of low liquidity owing to the Japanese
national holiday.
- GBP/USD added around 20 pips to trade at $1.3240 last, with resistance noted
at the 76.4% retracement of the move from $1.3285 to $1.3103/July 12 high
($1.3242/45), followed by the 61.8% retracement of the move from $1.3363 to
$1.3103 ($1.3264).
- USD/TRY has failed to test the pair's all time high after Turkey was
downgraded to BB, outlook negative, on Friday.
- U.S. retail sales provides the highlight today, along with the appearance of
the UK's Brexit white paper in the Commons, with some senior eurosceptics
expected to table some amendments.
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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