ForexLive Americas FX news wrap: Canadian jobs tee up a BOC taper 0 (0)

Forex news for North American trade on July 9, 2021:
Markets:
For a holiday-shortened week at a time of year that can be absolutely dead, this one had plenty of twists and turns. Friday was no different as the week-long bid in the US dollar vanished in a broad set of retracements that erased so of this

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US 10-year yields grind to a fresh daily high and dollar continues slide 0 (0)

Not the usual correlation
This week’s theme has been lower yields and a higher dollar but it started unwinding yesterday and that has continued.
US 10-year yields are now up 7.2 bps to 1.36% today. That’s 11 bps above yesterday’s lows, which coincided with the 200-day moving average.

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Cable continues to soar like it’s pricing in an England win 0 (0)

No offense to our Scottish and Welsh readers
The cable bid has been relentless today.
It was briefly squashed on fixing sales but it quickly came back and has been a one-way move that’s now extended to 100 pips. I earlier said that the weekly high of 1.3898 was out of reach before the close but

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AUD/USD trades to session highs as risk sentiment keeps more positive so far today 0 (0)

AUD/USD turns around the earlier drop to climb to 0.7460
The low today hit 0.7411 in Asian trading, which marked the lowest level for the pair since December, but things are quickly changing now in European trading as risk sentiment is also lookin more positive for the time being.

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PBOC cuts banks‘ RRR by 50 bps w.e.f. 15 July 0 (0)

PBOC slashes the reserve ratio requirements
these
This is the first RRR cut since April last year, when the economy was hit by the pandemic and is another message by Chinese officials that they are still trying to bolster economic growth despite recent concerns that support may be lesser to come by this year.

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