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A red start for the Dollar

USD
  • A red start for the Dollar, down against the Majors, nothing big, the Yen is leading in G10s, was up 0.11% pre EU Cash Govie open and is still up 0.11% post Cash open.
  • Despite the pullback off the 160.00 handle on likely profit taking, the Yen remains at its worst level against most currencies.
  • USDJPY still trades closer to Yesterday's mid range, and market participants will still be eyeing the 160.17 level, April high, and the highest printed level since 1990.
  • While the Dollar is off its best level, the AUD still trades close to Yesterday's printed high of 106.376 in AUDJPY, some the highest levels since 2007.
  • Upside target is still unchanged at the 2007 double top circa 107.873.

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