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

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.