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The USD opens flat at the European...........>

DOLLAR
DOLLAR: The USD opens flat at the European crossover, registering losses against
NZD & AUD after an uptick in the latest ANZ Business Confidence release and
minor gains over the rest of G10. The DXY remains confined to a narrow 10 pip
range and has so far failed to show any signs of a recovery, suggesting the
recent downtrend remains intact. A break under 94.00 opens double bottom support
at 93.80/85, below here would see bears target the Jun14 low at 93.19. On the
topside, 100-dma & long-term downtrend resistance is seen at 94.62/63. Gold
breached the $1200 level but needs a convincing break either side of $1190-1210
for clearer direction. Main focus turns to the Fed's policy decision today where
a 25bps hike is priced in, followed by Fed Chair Powell's press conference.
large option-expiries of note today: EURUSD $1.1800(E1.67bn), USDJPY
Y112.95-00($1.23bn), GBPUSD $1.3225(Gbp1.09bn), AUDUSD 0.7250/55(A$1.1bn).   

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