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Greenback Fades as Powell Kicks Back on Pricing

USD
  • Greenback edging to the lowest levels of the session, with both EUR/USD and GBP/USD faring better. Moves remain minor in comparison to the USD rally posted Tuesday, but EUR/USD has now cleared intraday resistance at 1.0565 and is narrowing the gap with the next intraday level of 1.0589.
  • EUR futures have posted a modest uptick in volumes across the past 20 minutes or so, largely triggered by the Powell comments ("stresses no decision made on pace of rate hikes"), which have also helped equity futures recover further off lows. Real estate, tech names the outperformers in the US so far.

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