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USD gives back light gains - As traders.......>

FOREX
FOREX: USD gives back light gains
- As traders reported of continued light volumes the USD was stronger against
most major currency pairs, before it gave back light gains through NY.
- GBP underperformed and remains bottom of the G10 pile on extended react to
weekend press reports of the UK leaving the EU without a trade deal. GBPUSD
touched 11 month lows of $1.2920. GBPJPY failed to break triple bottom support
around the Y144.05 area. EURGBP printed Gbp0.8936.
- USDCAD touched highs of C$1.3040 after Saudi Arabia severed investment ties
with Canada, before a minor retracement in the dollar eased to C$1.3000.
- EURUSD recovered off pullback lows of $1.1530 to hold around $1.1550.
- Despite the CBRT tweaking its reserve requirement ratio lower to boost USD
liquidity by $2.2bn, TRY underperformed with losses of over 3% against the USD &
EUR. USDTRY touched lifetime highs of Try5.2866, EURTRY cleared Try6.000 with
ease.
- Focus turns to the RBA (0430GMT) where rates are widely expected to remain on
hold, with a somewhat steady outlook. German Industrial Production at 0600GMT.
Energy BulletsCommodities
Energy BulletsCommodities

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