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Dec 05 - 04:55 PM

EUR/USD - COMMENT-US Recap: EUR/USD Gets Positioning Boost After French Vote

By Robert Fullem  —  Dec 05 - 02:05 PM

The dollar fell against most of its G10 counterparts on Thursday as positions were adjusted ahead of Friday's U.S. payrolls report, and the euro strengthened following France's no-confidence vote as President Emmanuel Macron sought to swiftly appoint a new prime minister.

Treasury yields were marginally higher after mixed jobless claims data.
Billionaire Elon Musk and former presidential candidate Vivek Ramaswamy met with Republican lawmakers whose support they will need to win to enact sweeping government spending cuts.

Commodity currencies generally lagged their peers amid lower oil and metal prices.
WTI crude fell after OPEC+ pushed back the start of oil output rises by three months until April and extended the unwinding of cuts due to weak demand and booming production outside the group.

British Prime Minister Keir Starmer said that he had not watered down the his ambition for Britain to become the fastest growing economy in the Group of Seven, as he set out ways to measure the government's progress.

Treasury yields rose up 4 basis points as the curve flattened.
The 2s-10s curve was down about 2 basis points to +2.5bp.

The S&P 500 was little changed in New York afternoon trade.

Gold slipped 0.82% amid firmer Treasury yields.

Copper edged down 0.20% on uncertainty about China's plans for stimulus.

Heading toward the close: EUR/USD +0.53%, USD/JPY -0.22%, GBP/USD +0.28%, AUD/USD +0.06%, DXY -0.37%, EUR/JPY +0.28%, GBP/JPY +0.07%, AUD/JPY -0.14%.




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Source:
London Stock Exchange Group | Thomson Reuters

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