USD Bulls in Charge - The USD holds firm......>

FOREX: USD Bulls in Charge

- The USD holds firm across the board with steep losses in G10 for NZD (-0.78%),

NOK (-0.65%) and AUD(-0.55%) amongst others. The DXY moved through the 21-dma to

95.57, US10y hit 2.8840%, while gold is back under $1200 at $1193.77.

- AUD is the main mover of the day and firmed 0.5% to $0.7235 post RBA, largely

due to the lack of any fresh dovish hints to the statement. However, as profit

take sales and broad USD demand emerged the rate was quick to dip under $0.7200.

This triggered renewed supply from momentum type accounts to print fresh cycle

lows of $0.7157.

- GBP was hit hard following remarks from Ex-MPC member Posen that he sees the

outcome of Brexit as bad, USD demand added weight to extended lows of $1.2818.

- EURUSD comfortably holds below $1.1600, slippage to $1.1558 has changed the

short-term outlook more neutral.

- USDJPY traded above Y111.50, before paring light gains. A break of Y112.00 is

required to change the outlook more bullish and target Y113.17 (Jul19 high).

- Kiwi slipped with AUD to print fresh multi-year lows of $0.6541.