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AUD/USD improves further alongside global....>

AUSSIE
AUSSIE: AUD/USD improves further alongside global equities, topping $0.6600 in
recent trade to narrow the gap with the recovery high at $0.6616. A break above
here opens the 200-dma at $0.6659 and $0.6673 Fib retracement for the decline
from the YTD high.
- Options market sentiment is improving in tandem with spot, with 1m risk
reversals inching to the best levels since mid-March (albeit still firmly skewed
toward puts).
- The option expiry schedule this week could keep spot contained, with larger
options rolling off at $0.6600(A$1.1bln Wednesday) and $0.6535(A$1.6bln
Thursday).

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