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AUD Tumbles, EUR Climbs, JPY Ends Flat on Intervention Threats
The Euro outperformed its FX peers, edging higher to 1.0900 from 1.0885 previously. Markets were not expecting much from the ECB at its monetary policy meeting tomorrow. The ECB is widely expected to hold the key interest rate unchanged, at 4.25%. Members of the ECB’s Governing Council remained vague, in line with their data-dependent approach. Meantime, the Dollar Index (DXY), a popular measure of the Greenback’s value against a basket of 6 currencies, grinded higher to 104.22 (104.07). US Retail Sales climbed to 0.0% in June, beating expectations of -0.3%. Core Retail Sales rose 0.4% from 0.1% previously. ... (full story)