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DXY continues to pull back from its recent...>

DOLLAR
DOLLAR: DXY continues to pull back from its recent cycle high, last at ~97.05.
- Positive developments re: Brexit matters seemingly being passed through the UK
cabinet (according to reports from the Sun) applied early pressure to USD as GBP
led the way higher vs. the greenback, before a positive start for the Nikkei 225
and BBG source reports suggesting that the U.S. is set to hold off on
auto-tariffs for now aided risk appetite early on, allowing the DXY to base for
the time being.
- Support comes in at 96.49/44 (21-DMA/61.8% 95.67-97.69). Resistance is seen at
the cycle high of 97.693, followed by 97.98 which represents the 61.8%
retracement of the move from 103.82 to 88.54, a break of the 98 level will
likely accelerate the move toward the May 17 2017 high at 98.12.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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