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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessUSD firm ahead of President Trump's Iran......>
FOREX: USD firm ahead of President Trump's Iran announcement.
- USD demand was the overriding theme in Europe with CAD & AUD the biggest G10
fallers. USDCAD triggered demand from momentum type accounts to C$1.2985. AUD
slipped to 11-month lows of $0.7467.
- EURUSD initially held a narrow 20 pip range after stronger German IP/Trade
data was countered by weaker imports & exports. The stronger USD theme
eventually prevailed to make a show under $1.1900, the break of yesterday's low
($1.1898) triggered reported stops to $1.1883.
- GBPUSD squeezed to $1.3593 on confirmation of the large M&A deal with Takeda
agreeing to buy Shire for about Gbp46bn in a cash deal. Traders faded the move,
before soft Halifax housing data with added broad-based USD demand briefly
dipped back under $1.35. Support remains at $1.3487 (May4 low).
- USDJPY largely held a narrow Y108.89-109.10 European morning range. Fed Chair
Powell did not discuss policy in his prepared remarks today as main focus now
turns to President Trump's Iran announcement at 1800GMT.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.