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Greenback Takes Lead

FOREX

USD regained poise in thin, pre-weekend Asia-Pac trade. The DXY crept higher as the greenback outperformed all of its G10 peers, even as a safe haven peer CHF faltered across the board, while JPY was mostly weaker. USD/JPY advanced, though its upswing may have been limited by today's expiry of $2.2bn worth of options with strikes at Y108.30-35.

  • The PBOC fixed its USD/CNY mid-point at CNY6.4845, 8 pips below sell side estimates and a third straight lower fix, a rarely seen occurrence amid the PBOC's unspoken preference for a weaker yuan.
  • AUD/NZD printed a fresh monthly high after a "golden cross" pattern materialised on the intraday chart. Looking ahead, $1.3bn of AUD puts with strikes at NZ$1.0730 will roll off at today's NY cut.
  • On the radar today: U.S. PPI & flash U. of Mich. Sentiment, EZ industrial output, final German CPI, UK monthly economic activity indicators & Canadian unemployment.

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