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USD firm ahead of President Trump's Iran......>

FOREX
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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