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Dollar Holding Bulk of Monday Losses

FOREX
  • After Monday's weakness, USD is bouncing ahead of Tuesday NY hours, with EUR also gaining. Nonetheless, the greenback is yet to erase Monday's weakness, holding the bulk of the losses. GBP is among the session's poorest performers, although GBP/USD still managed to hit a new April high at $1.3919 before retracing.
  • Both AUD & NZD also lag. The RBA rate decision overnight was unchanged - as expected - however the board stressed that they would wait for further signs of economic normalization before making any decisions on forward guidance.
  • Stocks hit new alltime highs in early Asia-Pac trade, but are pulling very slightly lower ahead of NY hours. The e-mini S&P is off around 0.2% but remains above the key 4,000 level that was topped late last week.
  • There are no major data releases among developed markets Tuesday, with February JOLTs job openings numbers the only notable release. Fed's Barkin is due to take part in an online discussion at 1930BST/1430ET.

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