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Greenback Extends Losses vs. EUR, GBP, CNH, AUD and Others

USD
  • Early greenback weakness extending in recent trade, with new daily USD lows printed against EUR, GBP, CNH, AUD and others.
  • This puts the USD Index through yesterday's lows and within range of support at the 61.8% Fib retracement of the Aug - Sept upmove at 92.2965.
  • Macro newsflow/catalysts for the move lower in the USD are few and far between, but the moves are infitting with the short-term trends in GBP/USD, USD/CNH and AUD/USD so far.
  • Fed's Mester speaks later today, just after the US PPI release - expected to show a new series high at 8.2% Y/Y on a final demand basis.

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