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Tight Start

FOREX

USD/JPY reversed its initial gains as cash U.S. Tsys re-opened higher in Tokyo. This allows the pair to extend its retreat from a two-decade high printed on Monday.

  • The kiwi dollar trades on a softer footing, which allows NZD/USD to probe the water below yesterday's low and lodge fresh cycle lows.
  • Commodity-tied CAD and NOK trade on a softer footing as crude oil shows some weakness.
  • Most major currency pairs have held tight range thus far, with participants on the lookout for new headline catalysts.
  • German ZEW Survey and Norwegian CPI headline the data docket going forward. Central bank rhetoric will be aplenty, with a decent number of Fed & ECB members due to speak.

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