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· General mood is “risk off”

· New Zealand Inflation softer at 6.9% from 7.1% talk

· USD regains the bid in early afternoon Asian trade

What’s Moving

After an overnight session of Dollar weakness, markets opened in Asia to a weaker than expected New Zealand inflation number, which pressured the Kiwi against the USD and the AUD.

Other than that, it was fairly quiet until earl afternoon trading saw the Dollr bid reemerge No news came out, it was just a general move that started with buying in UD/JPY and moved to the other currencies in turn.

On the speaking circuit tonight will be U.K. MPC Member Mann, Fed Chairman Powell.

Data tonight sees:

· Euro-zone CPI (E: 7.5%)

· U.S. Initial Claims (E:177k)

· U.S. Philly Fed (E: 21.5)


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