The Thanksgiving Day holiday in the US today should act as a firebreak to the recent risk sell-off but there is little to suggest it will prove a watershed. Overnight the Nikkei posted a new low for the year and equity markets generally remain subdued. With 10-year French yields again rising towards the key 3.80% level, the outlook for Europe is not improving and we expect the USD to remain well supported. EUR/USD appears on course to test key support at 1.3145 in the coming weeks.
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TECHNICAL RESEARCH