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-DXY dropped for a fourth consecutive.........>

FOREX
FOREX: -DXY dropped for a fourth consecutive trading day as Trump's criticism of
Fed policy and recovering emerging market assets dented the greenback further.
The USD index now sits as much as 1.5% below YTD highs with the 50-dma fast
approaching at 94.977. The JPY has been the only currency in G10 FX to
underperform the dollar, with short-covering helping USD/JPY bounce from the
multi-week lows of Y109.78 printed in Tuesday's Asia session. USD/JPY bulls will
have taken confidence in the pair's recovery back above both the 200- and
100-dmas at Y109.86 and Y110.01 respectively.
-Markets favoured EUR, SEK and GBP among G10 FX today macro news remaining few
and far between. This was despite some mild profit-taking after the UK's Brexit
Secretary Raab noting that there are still "significant issues to overcome" in
trade negotiations with the EU. GBP/USD still sits comfortably above $1.2850 at
typing.
-Wednesday's session is light on data, but Fed minutes will take focus ahead of
Eurozone PMIs Thursday and the beginning of Jackson Hole Friday.

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