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BBDXY Briefly Shows Above 1,240 For First Time This Week

USD

BBDXY briefly shows above 1,240 for the first time this week, with the 200-DMA (1,241.26 today) providing the most obvious immediate technical resistance point.

  • Feedthrough from the surprisingly expansionary MNI Chicago PMI release and Tsy yield related feedthrough ahead of/on the data will be helping underpin the greenback, allowing the BBDXY to tick further away from yesterday’s multi-month lows.
  • A quick reminder that month-end models point to USD selling requirements. We already saw the USD sold at the WMR fix on Tuesday, which was month-end value data, although remind that it was already biased in that direction in the wake of comments from Fed Governor Waller.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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