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USD Sales Tip EUR/USD, GBP/USD to Intraday Highs

CROSS ASSET
  • Another modest wave of weakness in the greenback tilts EUR/USD and GBP/USD to the best levels of the day - but both pairs still a way off the Thursday highs - this keeps 1.2387 the next intraday upside level in GBP/USD, while EUR/USD eyes 1.0757.
  • Despite the grind higher for both pairs, volumes are lower than recent averages, after several sessions of above-normal activity. US data crossing in an hour could change things, with the data deluge coming ahead of an early US close.
  • Softer USD coming alongside the firming US equity picture, as the e-mini S&P trades through earlier highs to narrow gap with 4175.50. Equity gains are gradual here, and not headline driven, with small clips evident on the way through 4160.00. Futures now point to a higher cash open on Wall Street, with tech names again outperforming.

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