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Greenback reverses fortunes to finish on......>

FOREX
FOREX: Greenback reverses fortunes to finish on top for second session
-After bursting out of the gates Friday on the bumper US jobs figures, Asia-Pac
and European traders seemed happy to take profits on the greenback rally. This
was short-lived, however, with the dollar regaining its poise throughout the US
crossover as US equity markets turned south. This allowed USD/JPY to edge north
of Friday's Y108.64 high, coming into closer proximity to the 50-dma at Y109.03,
a level not traded above since late April.
-Central bank commentary, data releases and news in general were few and far
between Monday, leaving markets contemplating the upcoming semi-annual testimony
from Fed's Powell and EMFX gyrations after the dismissal of the Turkish central
bank President.
-Tuesday's data is again light, with just Italian retail sales, US JOLTs and
Canadian housing starts on the docket. Focus turns to Speeches are also due from
various Fed members including Powell, but the appearances are on bank stress
tests and will not be testimony-related. ECB's Visco, Villeroy and Lane are also
due.

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