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Draghi talks Euro down, Aso lifts Yen – BBH

FXStreet (Barcelona) - The Brown Brothers Harriman Team notes that official comments from Japanese and European officials have injected volatility into the foreign exchange market.

Key Quotes

“The euro moved sharply lower during the London morning, falling from $1.2550 to $1.2440. Sterling, however, was little changed at $1.5670.”

“In contrast, the Australia dollar spike following news that China was cutting interest rates, rising to $0.8700.”

“The dollar gained back some traction against yen after the drop prompted by Aso’s, and is now trading close to ¥118.0.”

“In the EM space, RUB is the main mover, rising over 1% against the basket, while BRL is also outperforming, with the dollar falling back towards the $2.50 level.”

“The MSCI Asia Pacific index was up slightly, but EuroStoxx are gaining 1.4% while US equity futures are up 0.6%. Oil prices are raising are up over 1% following the news out of China, alongside copper and iron ore price, also up over 1%.”

India FX Reserves, USD climbed from previous $315.13B to $315.55B

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