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Steady USD Selling Persists Into London Close

DOLLAR

Greenback extending losses in recent trade, with persistent USD sales evident since the cash equity open and well into the London close.

Moves are most evident in EUR/USD, which continues to press to multi-week highs, but USD/CAD breaking lower also having fallen through the Monday low of C$1.3151.

Cash equity markets follow the lead of futures, opening higher and maintaining the gains a few hours after the opening bell.

MNI Tech flags risks to the upside in the e-mini S&P following the bearish weekly candle pattern seen since last week. A break of yesterday's low at 3410.75 would open the 50-day EMA at 3364.31.

Initial firm resistance is at 3508.50, Oct 16 high.

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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