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Wave of USD Buying Tips GBP/USD Through Yesterday's Low

CROSS ASSET
  • Fresh wave of USD buying goes through headed into the cash equity open, pressing GBP/USD through yesterday's lows and keeping EUR pinned lower against all others in G10. Move coincides with a quick reversal for the post-QRA move lower in yields, as the 10y yield recoups close to 4bps off the session low.
  • Best volumes of the session so far go through in EUR futures on the latest move, helping counter the below-average-volume trend seen across the European morning.

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