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Monthly Cash Review - EUR

EUR Liquidity LVNAV Fund

Economic releases in July continued to reflect the improving landscape as activity ramped up against the backdrop of a quickening vaccination rollout. Notwithstanding this improvement and the parallel pickup in inflationary pressures, the European Central Bank maintained a dovish outlook, adopting a new inflation target and indicating a willingness to keep interest rates at current levels for an extended period, Market rates declined through the month.