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A red start for the Dollar

CROSS ASSET
  • A red start for the Dollar, as Equities continue to recover, and the street look for a pause from the Fed.
  • After the Estoxx futures broke its May and April low this week, the contract continues to recover, but not much in terms of resistance in VGM3 at current levels, with next upside area of interest at 4346.00 and 4362.00.
  • The Aussie is the best early performer, following the hike in the minimum wage.
  • The move in AUDUSD also coincided with the bounce in Equities from the 31st May lows.
  • AUDUSD is now up 2.49% from the 31st May, or 0.64% just for today.
  • Next upside targets are seen at 0.6675 and 0.6710.

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