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USD Bid Stalls On Sofer Than Expected U.S. Existing Home Sales Data

FOREX

The USD bid that was apparent through the NY cash equity open stalls on the back of softer than expected U.S. existing home sales data.

  • The data also limits some cheapening in the Tsy space.
  • The BBDXY ticks away from best levels as a result after bulls failed to force a meaningful move through yesterday’s high in the index.
  • Last week’s multi-week highs (1,244.22) presents the initial area of meaningful technical interest to the upside.
  • As noted earlier, cross-market moves will likely remain front and centre through the remainder of the session.
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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