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Forex Flash: EUR/USD off highs on lower LTRO repayment – TD Securities

Due to market concerns on less than expected 3-year LTRO repayments, the EUR/USD eased from its highs, at 1.3675. “€3.5bn of banks’ 3-year LTRO borrowings will be repaid next week—in line with our expectations of small weekly payments but much lower than the Reuters poll expectations of €20bn”, wrote TD Securities analyst Tim Davis. Investors got surprised by both Italian and Spanish manufacturing PMIs, around half a point above consensus “while the German manufacturing PMI was revised up by a point to 49.8—within touching distance of 50 and following a better than expected preliminary German estimate”, said Davis, pointing also to a French print in line after the disappointing preliminary reading.

Forex: GBP moves out of Euro´s orbit – BBH

A key theme of the market recently has been the continued weakness of the UK economy and Sterling´s move out of the Euro-orbit to some extent write Brown Brothers Harriman analysts.
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Forex Flash: Technically, USD/JPY looks bullish ahead – Nomura

Nomura Strategist Saeed Amen has taken a look at USD/JPY from a purely technical perspective.
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