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Last week’s flows spilled over to this week’s session during the European and London session, supporting all majors against a weaker dollar.
Pound & Aussie Best Performers
Despite the political turmoil in the UK, the latest developments to make a no-deal Brexit on October 31st legally impossible seem to be supporting the British pound.
Not only is cable trading near fresh July highs at $1.2370, but it’s doing so with negligence of disappointing manufacturing production figures (0.3% act vs 0.8% exp). The dollar is indeed weaker, but none of the other majors surged as much as the pound. Apart from a relatively strong Aussie, that is.
The Australian dollar continues soaring as risk capital sizes remain at elevated levels. AUDUSD trades closer to the 63 cents mark this morning with the next strong resistance laying near the 69 cents. Should the day close on a positive note, the currency pair would mark its sixth consecutive winning streak.
Euro & Kiwi Also Up
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