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Greenback Slips, But Price Action Contained at US Crossover

FOREX
  • Greenback softening headed through to the NY crossover, with EUR/USD improving to trade back at unchanged on the day and GBP/USD back above 1.1550.
  • USD Index has faded back below the 50-dma in recent trade, but price action remains contained ahead of the raft of US data in an hour's time.
  • Worth recalling we're headed into month-end (although yesterday was month-end value date) and most prelim models had flagged need for moderate USD sales.

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