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Some downside continuation for the Dollar

USD
  • USD test lows versus EUR, GBP, NOK, SEK, SGD, CNY, CHF.
  • S&P testing session high likely helping somewhat, but very little in terms of clear spillovers, with Tnotes trading at mid ranges

In terms of technical:

  • EURUSED resistance is still at 1.1851 High Sep 8 / Sep 10
  • Cable moves down to 1.3851 initially.
  • USDJPY support is at 109.41 (24th Aug low), which we are testing at present. Below the latter would open to 109.11 (16th Aug low)

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