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Incremental Fresh Session High For BBDXY, "Trump Trades" In Focus

USD

The BBDXY has registered a fresh session high as European equities soften, although major USD FX pairs stick to relatively contained ranges.

  • While there are some European stock-specific negative factors at play, e-mini futures remain higher on the day.
  • We reiterate the “Trump trade” theme after odds of a second Trump Presidential term jumped following the failed assassination attempt.
  • This is ultimately supporting the USD via the current mix of cross-asset trade (yield differentials moving in the greenback’s favour & relative U.S. equity market outperformance).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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