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Haven FX Pressured as US Futures Reach New Alltime Highs

FOREX

Currency markets are rangebound Monday with the greenback trading mixed-to-weaker after Friday's rally. Risk sentiment is firm following a few positive catalysts over the weekend including reports that the White House had sought to reassure US firms privately that they could work with China's WeChat app within China, and that Trump is pressing for Coronavirus plasma treatment approval with the FDA.

This has helped buoy equities across Asian and European hours and well into the NY crossover, with both NASDAQ and S&P index futures at new alltime highs.

Given positive equities, JPY and USD are among the poorest performers Monday, with SEK, NOK and AUD trading well. This has helped boost EUR/USD off Friday's $1.1754 low, with the pair now just below $1.1850.

There are no material economic releases due Monday, which will likely keep markets focused on the upcoming Jackson Hole policy symposium due to begin this week.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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