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Having peaked at 98.33 last week, the DXY....>

DOLLAR
DOLLAR: Having peaked at 98.33 last week, the DXY extends its downtrend to 97.34
and looks set to close lower for the fourth consecutive session. Technically, a
close below the 21-dma (97.38) would further cement the bearish break, opening a
deeper correction toward channel base support & 100-dma at 96.93/67.
- However, a risk to the technical view would be seasonality factors which has
seen the DXY register gains in May for ten of the last twelve years. The index
has also posted four straight quarters of gains. 

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