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The dollar holds firm at the NY crossover....>

DOLLAR
DOLLAR: The dollar holds firm at the NY crossover with solid gains against G10 &
EM FX. EURUSD trades at session lows of $1.1150 with downside focus on the May
23 ytd low at $1.1107. GBPUSD holds toward the lower end of its $1.2627-65
range, key support from the May 23 low at $1.2606. The DXY trades a few pips
either side of the 98.00 handle, a positive close today put the focus back on
the ytd high at 98.37.
- Global equities remain in the red with focus on E-mini S&P futures which
breached the key 2,800 level to 2,782.00. The 200-dma comes in at 2785.94 and
has not closed below here since Mar 8.
- Also, a reminder of CitiFX's prelim month-end rebalancing model which points
to moderate USD buying driven by equity investor rebalancing needs. GBPUSD sell
single is the strongest signal due to outsized increase in UK gilts, while
USDJPY buy signal is the weakest.

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