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USD weakness was the theme late Tuesday as....>

FOREX
FOREX: USD weakness was the theme late Tuesday as ex-Trump lawyer Cohen reached
a plea deal with prosecutors, including an acknowledgement that "hush money"
payments were made on behalf of a candidate to influence an election. Elsewhere
former Trump campaign official Manafort was found guilty of tax evasion & fraud.
- MXN & CAD provided the fireworks overnight, turning bid on headlines from
Politico suggesting that the Trump administration is to announce on Thursday
that it has reached a 'handshake' deal with Mexico in NAFTA talks. The story has
been played down/denied by Mexican & Canadian source reports with USD/CAD
unchanged last & USD/MXN well off session lows. The story also saw USD/JPY tick
higher, with the pair reluctant to unwind the modest gains it has logged,
despite the release of the aforementioned source reports, after it traded in an
offered manner in early dealing.
- NZD benefitted from a stronger than exp. NZ retail sales print & leg lower in
the AUD/NZD cross. AUD was unreactive to the latest AU political dealings &
comments from RBA's Debelle, pressured via AUD/NZD.
- Focus now turns to the FOMC minutes & Canadian retail sales due today.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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