• +0.05% early after closing up 1.1% - U.S. dollar weaker across the board

• Yield spreads euro positive - 10yr bunds -14bp and 10yr UST -18bp this week

• EU edges towards a USD 60 price cap on Russian seaborne oil nL8N32R4BW

• Will be interesting to see how the mechanics of the cap work in reality

• Charts; momentum studies, 5, 10 & 21 day moving averages edge higher

• 21 day Bollinger bands contract - bounce leaves positive signals

• Close above 1.0511 50% 2022 fall targets 1.0615, late June range high

• 1.0475 709 mln and 1.0600 579 mln are December 1st significant close strikes

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