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Global growth concerns triggered another.....>

DOLLAR
DOLLAR: Global growth concerns triggered another wave of risk-off overnight
which has seen JPY sit top of G10 and comfortably pare all post President
Trump-XI trade inspired losses. USDJPY charted a bearish engulfing candle
yesterday with the downtrend extending to Y107.52. Soft global equities
pressured with added weight from UST yields which saw the 10y dip back under
2.0% and currently print multi-year lows of 1.9466%.
- Gold rallied hard through $1400 yesterday, before topping out at $1437.88 in
Asia. The yellow metal has gained nearly $50 in 24 hours with such moves open to
a short/sharp reversal as technical indicators look stretched. The Jun 25 high
provides key resistance at $1439.21.
- WTI & Crude hold in narrow range trade off their best levels of the week.

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