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USDCAD trades 20 or so pips higher at.........>

FOREX
FOREX: USDCAD trades 20 or so pips higher at ~1.2570 heading into today's BoC
decision, with the overwhelming majority expecting the BoC to stand pat, and
markets pricing a mere ~20% chance of a hike. Focus will fall on the Bank's MPR
& Poloz's press conference. It is worth noting that there is some USD 2.07bln
worth of 1.2600 USDCAD option expiries set to roll off at today's 10AM NY cut,
with an additional USD 910mln of 1.2585 options set to roll off.
- JPY has softened a tad following reports that Mike Pompeo travelled to North
Korea to meet with the country's leader Kim Jong Un, with USDJPY last dealing at
107.30.
- The Antipodeans lacked any real conviction ahead of tomorrow's Aussie Labour
market report & Kiwi CPI releases.
- EUR & GBP managed to lodge marginal gains vs USD, with UK CPI dominating
Wednesday's morning docket. There is talk of offers around 1.2400 in EURUSD.
- We will also hear from Fed voter Dudley & Governor Quarles on Wednesday.
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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