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Forex Flash: Gilts face acute headwinds as support tested – RBS

FXstreet.com (Barcelona) - Gilts breached the 117.66 support level, pointing to the likelihood of further weakness towards the next major support of 117.05. However, the 20/5/5/3 slow stochastic reached oversold region, which might be supportive for the price action for the time being.

Overall, “the market remains bearish and after breaking the 117.66 support, I would expect a test of 117.05 and potentially 116.50. Bear in mind there is also a minor support at 117.43. Caveat is a sustained recovery above 118.61 (or a close above the 118.94 gap).” notes Dmytro Bondar, a Technical Markets Strategist at RBS.

Forex Flash: Does the JGB sell-off matter? - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that weekly change in the 10yr JGB yield shows that they have jumped, in relative terms, faster than any other asset market, even if they are ‘only’ at 85bp now.
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Forex Flash: EUR driving forces become clearer by the day - BMO Capital Markets

Stephen Gallo, European Head of Currency Strategy at BMO Capital Markets notes that with each passing day, investors are receiving more clarity on the degree to which macro economic divergence and macro economic downside are the principal driving forces for the EUR at present.
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