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The [TICS] is better than expected at $84.5bln with this sending the Dollar back higher, with Eur/Usd down to 1.28/45/50 on the release. The data beats forecasts and also suggests that on first glance there is more HIA related Dollar demand than initially expected at the start of the year. It will be interesting from hereon in to see how dealers differentiate between the conflicting data, as while capital inflows are strong, the import prices are high and empire at 2 yr lows. 2 more sets of data are due, IP and Michigan. Option expiries for 14GMT are also impacting, with 1.2880 and 108.00 strikes in Eur/Usd and Usd/Yen.
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