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Dollar Dips into NY Hours, But Volumes Lacking

USD
  • Further fade in the greenback tilts GBP/USD, EUR/USD to a new daily high - very modest uptick in volumes on the move, but cumulative volumes so far remain below the running average for this time of day (follows yesterday's very active session: total EUR futures volumes were 50% above normal.
  • Next intraday upside level at 1.0712 - the 76.4% retracement for yesterday's pullback - but resistance seen scant into the 1.0811/42 20- and 50-day EMAs.
  • Despite the debt ceiling deal clearing the House yesterday, opening the next step in the Senate, intraday USD rallies remain capped by the 'skip' narrative raised by Jefferson yesterday - raising focus on an appearance from Harker later today, who is the final currently scheduled Fed speaker before the media blackout and Jun14 FOMC decision.

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