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EMERGING MARKETS: Greenback Rally Tips USD/HUF to New Highs

EMERGING MARKETS
BulletEM BulletEmerging Market News

Greenback's solid NFP rally is sticking well, with the data pressing USD/MXN to new pullback lows of 19.2229 and prompting a 366.10 print for USD/HUF - which touches the best level since early August in the pair.

  • Fed OIS pricing is reversing hard, with the odds of a 50bps rate cut step at the Fed's November meeting falling sharply - a 25bps is now priced, well off the ~32bps pricing seen ahead of the figure.
  • This narrows the gap with the early August highs at 367.88, which presents at next meaningful resistance. A close above here would be the highest since July 2nd.
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Greenback's solid NFP rally is sticking well, with the data pressing USD/MXN to new pullback lows of 19.2229 and prompting a 366.10 print for USD/HUF - which touches the best level since early August in the pair.

  • Fed OIS pricing is reversing hard, with the odds of a 50bps rate cut step at the Fed's November meeting falling sharply - a 25bps is now priced, well off the ~32bps pricing seen ahead of the figure.
  • This narrows the gap with the early August highs at 367.88, which presents at next meaningful resistance. A close above here would be the highest since July 2nd.