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Risk On keeps USD in the red

FOREX
  • The Dollar was mostly mixed in G10 overnight and into the Cash Govie open.
  • The Greenback is now in the red across G10s, given the Risk On tone in the US and Yield drifting lower.
  • The notable movers have been the EUR and GBP, the EUR which trades in the red following weaker PMIs for France, Germany and the EU.
  • While GBP is more on the front foot, after UK PMIs beat consensus.
  • Despite the UK data beat, the NOK is the best performer against the Greenback, up 0.43%, and eyeing a test down to 10.4471, Yesterday's low in USDNOK and the lowest print since mid August.
  • USDJPY test session low at the time of typing, taking its cue from the pull lower in US Yields.
  • Next support for USDJPY will be at 140.97, Yesterday's low and the lowest printed level since the 31st July.
  • In terms of notable Option expiries in FX, today sees EURUSD 1.47bn at 1.0950, and USDCAD 2.43bn at 1.3400/1.3430.
  • Looking ahead, on the data front, US IP and prelim PMIs are the notable data.
  • Speakers include, ECB Centeno, Vasle, Kazimir, Muller, Scicluna, Simkus, Vujcic, Fed Williams and BoC Macklem.
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