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Despite low volumes and narrow ranges, the...>

DOLLAR
DOLLAR: Despite low volumes and narrow ranges, the USD witnessed marginal gains
through Asia, extending yesterday's recovery. The DXY comfortably holds above 96
targeting a move towards the Nov 7 high & 50% retracement of 97.20-95.67 at
96.43/44, a break opens the Nov5 high at 96.67. UST yields firmed again to
briefly trade above 3.23%, edging closer to recent cycle highs of 3.2594%. A
break of pivotal resistance at 3.3085% opens the long-term 38.2% retracement
level of 6.8280-1.3180 at 3.4228% (as highlighted in the MNI Analysis email - US
10y on Nov 6). Gold extends its downtrend but has so far managed to hold above
$1220. The 100-dma provides key support at $1216.79. USDJPY pares yesterday's
losses to Y113.74, targeting Y113.82 (Nov7 high, 1.618% swing Y112.89-111.38)
and above.  

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