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Fed Comments, JPY Action Underpinning Greenback Weakness

EMERGING MARKETS
  • Latest Comments From Fed’s Daly, JPY Strength Adds To USD Weakness
  • [RTRS] - FED'S DALY: RENTAL PRICE INFLATION IS STARTING TO SLOW
  • WANT TO AVOID AN 'UNFORCED DOWNTURN' BY OVERTIGHTENING
  • Most recent comments and action in the JPY exacerbating the support for the front-end in the US and continuing to underpin the greenback weakness across the session. Emerging market currencies reacting favourably, with relatively weakness in the COP still evident.
  • Below gives key levels of LatAm markets in current trade:
    • USDMXN down 0.74% at 19.8928
    • USDBRL down 0.9% at 5.17
    • USDCLP down 1.04% at 969
    • USDCOP down 0.08% at 4902.75
    • USDPEN down 0.05% at 3.9809
    • Bbg Dollar Index down 0.92% at 1334.84
    • USDCNH down 0.45% at 7.2216
    • JPMorgan EM Ccy Index up 0.55% at 48.695
    • S&P E-Mini Future up 40.25 points (1.1%) at 3717
    • WTI Crude Oil (front-month) up $0.48 (0.57%) at $85.01

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