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Dollar remains offered ahead of 2nd half of...>

FOREX
FOREX: Dollar remains offered ahead of 2nd half of Powell testimony
-The greenback carried the post-Powell losses throughout the Asia-Pac session
and European morning and remains on the back foot at the NY crossover. EUR/USD
rallied further, printing a high up at $1.1281, the best level since July 5th.
The heavy USD also pressed USD/JPY briefly back below Y108. The moves come ahead
of the second part of testimony from Fed's Powell, this time in front of the
Senate Banking Committee, although the released testimony should remain the
same.
-Market moves across DMFX have been muted, with EMFX trade favouring the ZAR,
while the TRY retraces some of the Wednesday gains. After a bruising few
sessions at the beginning of the week, Antipodean FX is starting to recover,
helping boost AUD/USD back above the 50-dma, targeting resistance at the $0.70
handle.
-Outside of the Powell appearance, US June CPI is also due as well as the weekly
jobless claims numbers. Fedspeak doesn't end with Powell, however, with speeches
also due from Williams, Bostic, Barkin, Quarle and Kashkari. 

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