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Risk Bounces, Dragging USD Index Off Multi-Month High

FOREX
  • JPY is weaker early Friday as the recent risk-off theme unwinds somewhat. Equities are firmer headed into the final trading session of the week, with futures indicating a positive open later today.
  • The bounce in risk sentiment is helping support antipodean currencies so far Friday, which bounce off the week's underperformance. AUD/USD is clear of the Thursday highs, opening 0.7636 for direction.
  • The USD index is off the week's multi-month high printed yesterday (highest since November) but remains above the 200-dma at 92.605 which should keep the outlook positive.
  • US data takes focus going forward, with US personal income/spending and PCE numbers for February crossing at 1230GMT/0830ET. Speeches from BoE's Saunders & Tenreyro also cross.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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