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NY Crossover Sees Downside Pressure on EUR/USD Alleviate

FOREX
  • As was the case on Wednesday, the greenback seeing some pressure through 7am NY time, with improving volumes across currency futures alleviating some of the downside in EUR/USD. Intraday, EUR/USD is back above the late US high of 1.0554, but still well shy of Wednesday's high and congestion resistance layered at 1.0594-95.
  • Spot is gravitating back toward one of the session's larger strikes for today's cut (expiry is two hours pre-Powell) at 1.0560, at which E843mln is set to roll off.
  • EUR now the strongest currency in G10, with CHF not far behind. EUR/JPY improving also, with the modest uptrending 50-dma remaining an anchor for prices at 157.93 today.

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