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Dollar Fades Through Month-End WMR Fix

USD
  • Headed through the WMR calendar month-end fix, USD is inching lower, most evident in GBP/USD and USD/JPY which partially reverse their post-PCE data moves - with USD/JPY now comfortably back below the Y148.00 handle, although still remaining in positive territory.
  • Moves retain the 100-dma as next support - pierced, but not broken today - at 147.08. Recall the majority of sell-side models called for USD sales as the dominant month-end rebalancing flow, which we may have seen the residual effect of over the past 10 minutes or so.

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