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Forex pairs in this Article » (Barcelona) - Nick Bennenbroek, Head of Currency Strategy at Wells Fargo notes that USD is mixed, with today's currency moves modest in comparison to last weeks price action.

He writes, "European equities are steady to stronger, while U.S. equity futures are slightly lower. The Euro is modestly higher, gaining despite soft Eurozone data. The yen is down slightly, and reached its lowest level against the U.S. dollar since mid-2010, on continued calls from the government for 'bold' policy action.

"Among the other G10 currencies, the Australian and New Zealand dollars are stronger, along with the Scandinavian currencies. The pound is down, while the Swiss franc is also lower. In fact, the Swiss currencies softened to its weakest level against the Euro since December 2011."

While today's market activity is consolidative in nature, there are no immediate events that look likely to halt last week's more favourable market sentiment and foreign currency gains. His outlook ahead is for some further slippage in USD over the near term.
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