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FOREX: Greenback sinks on woeful Consumer Confidence, impeachment chatter
-The USD was comfortably the poorest performer in G10, with the greenback edging
lower alongside both equities and Treasury yields as the curve flattened. The
currency came under pressure from several angles, with dour data, a particularly
combative UN speech from POTUS, rising impeachment odds and fear of large fines
aimed at some of the US' biggest companies all shouldering some of the blame.
-In reality, the greenback move failed to move the needle among most major pairs
with the exception of USD/JPY, which broke to two week lows and found little
support until the 50-dma at Y107.08.
- Elsewhere, UK PM Johnson refused to resign despite the UK's highest court
deeming his suspension of Parliament as unlawful - resulting in some modest GBP
-The data calendar remains very quiet, with just US new home sales on the docket
for Wednesday. The speaker slate provides a little more excitement with BoJ
minutes, BoJ's Masai, BoE's Carney, ECB's Coeure & Lautenschlaeger and Fed's
Evans, George & Brainard all due.