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Greenback Edges Higher, Sentiment Weighs On EM FX

LATAM
  • Despite early weakness for major equity indices, this price action has reversed with most futures markets well off the lows headed into the NY crossover.
  • Even with this bounce, currencies with the most beta to risk sentiment such as AUD and NZD are significantly lower on Friday with the EM currency index also trading with a bearish tone.
  • Focus on the data front is the June US manufacturing ISM release.

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