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USD Maintains Positive Momentum

FOREX

The USD has had a spike higher, led by USD/JPY. This pair is now through 136.15, comfortably above overnight highs and back to levels last seen in late July. Difficult to pin point a headline catalyst for the move. We did see that Xi and Putin will attend the G20 summit in Indonesia, although USD/JPY was already rebounding just prior to this news. US bond futures are down a touch. AUD and NZD are also weaker. NZD/USD the weakest performer for the session now -0.4% to 0.6234, while AUD/USD is threatening recent lows around 0.6900 (-0.20% versus NY closes). USD/CNH is also a touch higher, up towards 6.8100.

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