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Session Recap: EUR resilient amid USD gains

FXStreet (Córdoba) - Another quiet European session has seen the US dollar extending gains versus the yen to fresh 6-year highs, while the Aussie has been heavily sold-off.

There was little in terms of news or events, so focus has remained in the Scotland independence vote, with an online survey giving the lead to 'yes' (53.9% vs 46.1%). GBP/USD fell to a fresh 10-month low of 1.6051 but bounced soon after.

EUR/USD has traded in a narrow range, spiking briefly to a high of 1.2962 before pulling back to trade nearly flat. USD/JPY pushed to a fresh high of 106.79, while AUD/USD also underperformed, sliding to a 5 ½-month low of 0.9112.

Elsewhere, US Treasury yields have continued to edge higher, with 10-year Treasury yield higher at 2.51%, while European stocks and US futures trade broady lower amid geopolitical concerns and prospects the Fed could signal a rise in interest rates.

There is no first-tier data scheduled for the New York session.

Main Headlines in Europe:

European stocks fall for a fourth day

Greece Consumer Price Index - Harmonized (YoY) above forecasts (-0.6%) in August: Actual (-0.2%)

Pound falls on Scottish referendum poll rumors

Merkel urges Eurozone countries to continue supporting recovery by implementing reforms

Germany 10-y Bond Auction declined to 1.05% from previous 1.08%

Portugal Consumer Price Index (YoY) above forecasts (-0.8%) in August: Actual (-0.4%)

Scotland remains key for GBP in the short term – BTMU

Derek Halpenny, European Head of Global Markets Research at BTMU, underlined the importance of the events in Scotland in shaping the near term future of the pound....
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Scotland referendum taking a toll on GBP – Rabobank

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