DXY Dips Below 100-dma -The greenback sold....>

FOREX: DXY Dips Below 100-dma

-The greenback sold off from the NY crossover onwards, prompting the USD index

to slip below the 100-dma for a third consecutive session. Traders eye a close

below this mark for any steeper losses toward the 94.084 late July low. The

belligerent trade tone between Trump and China remains the prevailing theme,

weighing on equities in both countries, as markets eye another wave of tariffs

from the White House.

-SEK remains the strongest in G10 as the market, which remains skewed heavily

short, was caught offside by a surprisingly upbeat set of Riksbank minutes,

which highlighted the weaker FX rate fuelling domestic price pressures. EUR/SEK

slipped below the Sek10.4291 50-dma as a result. 

-NZD recouped a small part of the losses suffered early Monday, leaving JPY the

worst performer among the majors. Nonetheless, JPY price action was largely

shallow following Monday's Japanese market holiday.

-Data calendar thin on Tuesday, keeping focus on speeches from ECB's Draghi,

Villeroy and Nouy.