• +0.1% in an active 1.2448-1.2468 range as risk appetite resurfaces in Asia

• Asian stocks are higher, E-mini S&P +0.25%, UST yields a touch softer

• Central banks believe inflation is falling, but remain data-driven on rates

• Uncertainty on the timing of upcoming rate moves and currency response leads

• Charts; 5, 10 & 21-day moving averages fall as 21-day Bolli bands contract

• Neutral daily momentum studies - daily charts retain the bearish bias

• Move targets 1.2369, 0.618% Oct-March rise, and then the 1.2045 Oct 23 base

• 1.2482 early London high then Monday's 1.2498 high are initial resistances

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