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Tight G10 Ranges, DXY Off Monday’s High

FOREX

The stabilisation in U.S. Tsys has allowed the USD to edge marginally lower vs. the bulk of its G10 FX peers during the early rounds of Asia-Pac trade, with the exception being the JPY, as the uptick in the Nikkei 225 and spill over from NY dealing applies some modest pressure to the yen. There hasn’t been anything in the way of notable tier 1 macro news flow since the Asia re-open, leaving the major USD pairs in narrow ranges, with the broader DXY a touch shy of Monday’s high given the previously outlined moves in the FX space.

Chinese Caixin manufacturing PMI data is due to cross in ~15 minutes time. Looking further ahead, it will be the latest ISM manufacturing survey and an address from Minneapolis Fed President Kashkari (dove, ’23 voter) that generate most of the interest when it comes to the remainder of Tuesday’s docket.
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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