Risk appetite decreased amid worries about the stability of Deutsche Bank, one of the largest banks in the world (11th) and systemically important financial institutions. Stocks finished the day lower yesterday, and most of the Asian indices are down this morning as well. Oil prices retraced slightly overnight, which also had an impact on risk appetite.
In FX, it remains relatively quiet. EUR/USD traded 1.1205-25 overnight, while GBP/USD consolidated in a 1.2945-75 range. UD/JPY ran into decent offers ahead of the 101.80 level and the topside was capped there. While the pair remains bid overall, resistance pre-102 has proven to be tough.
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