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Lower Yields keep the lid on the USD

CROSS ASSET
  • Some shorts are bailing out, as Bund, EGBs and Treasuries break to new highs.
  • Some spill overs into the USD as Yields drift lower.
  • USD is back in the red against most G10s, besides the CAD that sits 0.07% down, ahead of the Canadian rate decision at the top of the hour, when the BoC is expected to keep its rate unchanged at 4.50%.
  • Next resistance in TYM3 is at 11.17.

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