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Renewed USD Strength Prompts GBP/USD Range Breakout

USD
  • Mirroring the uptick in the US 10y yield (showing above 4.10% for new post-payrolls highs), the greenback inches to new highs, allowing GBP/USD to clear that 200-dma level and confirm a downside range breakout. Moves come in response to further hawkish tones (compounding Powell's 60 Minutes appearance) from Kashkari.
  • Similarly, EUR/USD slips to new '24 lows, narrowing the gap with 1.0724, the horizontal support drawn off the pre-Fed low of Dec 8th.

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