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Dollar Recovery Extends In Early Asia Pac Trade, Firmer Yields Helping

FOREX

The USD is modestly higher in early dealings. The BBDXY a touch above end Wednesday levels in NY, last near 1237.

  • USD gains are around the 0.10-0.15% level so far in Asia Pac trade, so fairly modest, albeit uniform gains. The early tone to US yields is slightly firmer, with the benchmarks +1/+1.5bps higher, continuing the positive trend from late in NY trade as better US PMI data aided the move.
  • US equity futures are down a touch, close to flat, with the FAA halting Boeing Max expansion production plans, which has weighed on the share price in after hours trade.
  • USD/JPY is back to 146.70, AUD around 0.6570, while NZD/USD is back close to 0.6100.
  • There isn't much in the way of further data outcomes for the session, which will leave the market on headline, broader risk appetite watch.
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