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USD drifts lower

CROSS ASSET
  • The Dollar is seeing broader base selling, taking its cue from the Risk On tone, and Estoxx futures (VGM3) just gets lifted in over 5k.
  • Cable is through the intraday high, and testing immediate resistance right here at 1.2592 76.4% retracement of the May 10 - 25 bear cycle.
  • Above the latter, would see 1.2641 High May 11.
  • Gold is now firming on the back of the Dollar.

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