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Free AccessFX SUMMARY
A mixed session for the Dollar in early trade.
- Early flow, price action saw some rounds of USD selling as we started the European session.
- USD was already underperforming against G10s overnight, but some small continuation early on.
- USD broke out of the tight ranges to fades yesterday's price action, but nonetheless still within ranges.
- The USD tested session low against EUR, GBP, AUD, CAD, and JPY.
- The small resistance in EURUSD which moved down To 1.2202 held for now, printing a 1.2205 high.
- Above the latter would open to double top at 1.2245 (April and May's high)
- GBP came under pressure, but no clear driver on the latest leg lower, besides some dip lower in yields, as well as some reversal in USD.
- Safe haven FX are in the green with risk better offered and lower yields. CHF and JPY are up 0.25% and 0.22% respectively.
- Looking ahead, US IJC is the notable release.
- Speakers include ECB Lane, Lagarde, Holzmann,,Fed Kaplan.
- BUT all attention is turning to Global prelim PMI releases tomorrow
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.