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FOREX: USD, JPY rally to end week on a sour note
-The greenback sits second to just the JPY today after mixed performance since
Monday (USD had a pretty neutral week so far: rising against six, falling
against four others in G10) after the Fed's policy decision did little to elicit
price action in either direction. As such, markets took to selling equities on
Wall Street - a theme that carried through much of the Asia-Pacific session and
the European morning.
-After a solid few sessions, GBP ebbed lower throughout the morning as Brexit
progress seemed to stall and sputter, and a mixed GDP report did little to
soothe sentiment. Consequently, GBP/USD a few pips above $1.30 at writing.
-NOK's the weakest among the majors currently, with a surprisingly weak October
inflation report denting chances of an imminent rate hike from the Norges Bank.
EUR/NOK trades just shy of the Nok9.5721 200-dma.
-Focus shifts to US October PPI, Wholesale inventories and trade sales and the
prelim November Uni. of Michigan report. Quarles, Williams and Harker provide
the Fedspeak, while BoE's Haldane speaks in Bristol this afternoon.