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Broad Greenback Weakness Extending

USD
  • Fairly consistent USD weakness since the open overnight has extended in recent trade, with EURUSD climbing back above parity and GBPUSD testing the 1.15 handle.
    • No immediate resistance for the single currency may pave the way for a move towards 1.0094, the high on Oct 27 and a bull trigger.
    • For cable (+1.10%), consistent demand has seen a clean break of the 50-day exponential moving average at 1.1429 and further strength would focus in on 1.1566, the October 27th high.

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