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Greenback Softer In Early Dealing

FOREX

The USD is marginally pressured in early Asian trade, the dollar had pared some of its losses in late NY trade in the aftermath of the Fed's decision to hike 25bps yesterday. BBDXY sits ~0.1% lower.

  • AUD/USD prints at $0.6695/0.6700 ~0.2% firmer this morning. The pair faced resistance at the 50-Day EMA ($0.6760) post FOMC.
  • Yen is also firmer, USD/JPY is down ~0.2% last printing at ¥131.15/25. Post FOMC lows are intact for now, the next downside target is ¥130.54, low from March 20.
  • Kiwi is marginally firmer at $0.6230/35. On the wires this morning February’s ANZ Heavy Traffic Index fell 0.7% M/M, the prior read was 0.8%. RBNZ Chief Economist Conway speaks on inflation shortly.
  • Elsewhere in G-10, GBP and EUR are ~0.1%.
  • Cross asset wise, US Equity futures are firmer. E-minis are up ~0.1%. US Treasury futures are a touch firmer.
  • The aforementioned remarks on inflation by RBNZ Chief Economist Conway headline an otherwise thin docket in Asia-Pac. Further out we have SNB, Norges Bank and BOE rate decisions. US New Home Sales, Initial Jobless Claims and Fedspeak from St Louis Fed Bullard will also cross.

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