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The DXY fell for a fourth consecutive.........>

FOREX
FOREX: The DXY fell for a fourth consecutive session on Tuesday as Trump's
criticism of Fed policy dented the greenback further, before extra weight was
added as ex-Trump lawyer Michael Cohen reached a plea deal with prosecutors,
including an acknowledgement that "hush money" payments were made on behalf of a
candidate to influence an election. Elsewhere former Trump campaign official
Paul Manafort was found guilty of tax evasion and fraud.
- The JPY underperformed, with short-covering helping USD/JPY bounce from the
multi-week lows of Y109.78 printed in Tuesday's Asia session. USD/JPY bulls will
have taken confidence in the pair's recovery back above both the 200- and
100-DMAs at Y109.86 and Y110.01 respectively.
- EUR, SEK & GBP were in favour, despite some mild profit-taking after the UK's
Brexit Secretary Raab noted that there are still "significant issues to
overcome" in trade negotiations with the EU. GBP/USD still sits just above above
$1.2900 at typing, with bulls focused on the August 09 high ($1.2912).
- Focus on Wednesday falls on the FOMC's August meeting minutes, Canadian & NZ
retail sales, as well as a speech from RBA Asst. Gov. Debelle
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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