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J&J Pauses Covid-19 Vaccine Trial, FX Space Sees Defensive Moves

FOREX

The re-opening of cash Tsy trade after the elongated weekend in the U.S. brought an uptick in the DXY and the greenback has taken a lead in G10 FX space. It coincided with weakness in e-minis, which has helped bolster safe haven currencies. The Antipodeans underperform in the basket, with AUD leading losses. AUD/USD has crossed below the $0.7200 figure. Defensive moves have gained traction just before a STAT report noting that a J&J Covid-19 vaccine test has been paused due to patient illness got some broader airing.

  • USD/CNH shot higher amid renewed demand for the greenback, rising past yesterday's high. Today's PBoC fix will garner attention, as will Chinese trade figures, due at some point later today.
  • Elsewhere, German ZEW Survey, U.S., German & Swedish CPIs, UK labour market report take focus today. Bank Indonesia delivers its MonPol decision, while BoE's Bailey, ECB's de Cos, Fed's Barkin & Riksbank's Ingves are set to speak.

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