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The dollar sits moderately weaker across.....>

DOLLAR
DOLLAR: The dollar sits moderately weaker across most of G10 at the NY
crossover. Volumes have so far remained light with FX currency pairs tied to
narrow range trade. Immediate focus turns to US Personal Income & PCE data at
1230GMT, the MNI Chicago PMI is released at 1345GMT, followed by Michigan
Sentiment at 1400GMT.
- Personal income is expected to rise by 0.3% in May, as payrolls rose by only
75,000, the average workweek was unchanged, and hourly earnings posted a trend
0.2% gain. PCE is expected to be rise by 0.2%, based on stronger retail sales
data in May and an upward revision to sales in the previous month. The MNI
Chicago PMI is expected to fall back slightly to a reading of 53.6 in June after
a modest gain to 54.2 in May.
- A reminder that month-end bank models have suggested strong dollar sales today
which will be monitored around the WMR fix. Headlines from the G20 summit could
also drive. 

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