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*CORRECT* DXY last trades at 97.38, 13.......>

DOLLAR
DOLLAR: *CORRECT* DXY last trades at 97.38, 13 pips higher, with the greenback
sitting atop the G10 pile. WTI holds steady, while gold has shed ~$6.7. BBG
cited FX traders as attributing greenback strength to EUR/USD sales stemming
from macro positioning ahead of Thursday's ECB MonPol decision.
- Bulls need to clear the nearby Jul 16 & 17 highs, both at 97.44, before
attempting a move at 97.58, which represents the 23.6% retracement of the YtD
range & the high of Jun 14. Bears look for a retreat below the 100-DMA/50-DMA at
97.19/18.
- Democrats and Republicans have struck a deal re: the debt ceiling, which now
requires formal approval by the Congress. Elsewhere, President Trump has signed
off on timely licencing decisions surrounding sales to Huawei.
- Ex-Fed off'l Wilcox told MNI that the Fed should make up for periods of low
inflation by encouraging high inflation later, abandoning its policy of "letting
bygones be bygones."
- U.S. focus today turns to existing home sales. The Fed is in its blackout
period ahead of their policy meeting scheduled for next week.

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