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Dollar strength pervades for a fifth..........>

FOREX
FOREX: Dollar strength pervades for a fifth session as eyes turn to Fed
-The USD index rallied further Tuesday, with gains most evident against the AUD,
GBP and NZD, as the greenback's winning streak boosted the currency to its
strongest level since mid-June. The gains appear built on the expectation that
Wednesday's testimony from Fed Chair Powell will affirm the market's recent
retrenchment of Fed easing expectations.
-MXN slipped sharply just after the London close as the country's well-respected
finance minister unexpectedly resigned via a highly critical statement posted on
Twitter. USD/MXN ripped through the 100- and 50-dmas in response, before finding
some resistance ahead of the 200-dma at 19.3798.
-AUD underperformed all others in G10 as industrial metals sagged. Iron ore and
copper were off well over 1%, adding weight to mining stocks and the AUD, which
underperformed from the off.
-Powell's testimony will likely be the highlight of the Wednesday session, but
the Bank of Canada rate decision is also due. Data includes UK production
numbers for May and US wholesale inventories.

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