News that the New York Fed has announced a series of 14-day repos starting on Tuesday is the latest development in a line of short-term funding issues faced across the Atlantic that have come to light this week. The proposed repos will be for at least $30B and run through October 10th. This issue can be seen as positive for the buck and the USD is gaining against nearly all its peers on the day. The EURUSD has been in a near constant state of decline since around 9AM this morning and the world’s most popular FX pair is now once more back at the round 1.10 handle.
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