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A declining flight to safety - BMO Capital Markets

FXStreet (Barcelona) - Stephen Gallo, European Head of Currency Strategy at BMO Capital explained that the broad value of the USD was basically trading unchanged by the end of the London morning and start of this week.

Key Quotes:

“In some areas, key interest rate differentials have been more USD supportive than they were last week, given the normalisation in sentiment."

"But this has been offset by a declining flight to safety, as well as some further moderation of long USD exposures”.

“Global commodity and equity prices were basically stable during the Asian session and London morning."

USD/CAD 1.1300 breakout undermined - TD Securities

Shaun Osbourne, Chief FX Strategist at TD Securities explained that USD/CAD’s late-week drop back from the high 1.13s to just below the former cycle-high of 1.1277 undermined the momentum of the breakout.
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GBP/USD consolidates below 1.6150

GBP/USD stretched a little higher and printed fresh 11-day high at the beginning of the New York session, although the move lacked follow-through and settled in a range right below.
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