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March 3, 2012

Week in FX Europe Feb 26-Mar 2

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This week's ECB LTRO program is supportive of emerging and higher yielding G10 currencies. This second 3-year LTRO provided a total of nearly +€530b in fixed rate funding, slightly above the consensus median expectation of +€450b. This excess liquidity in the system is depressing front-end yields... FF News: Fundamental

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