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USD: Greenback Clears to New Lows as Equities Improve

USD
USBulletGlobalForeign Exchange BulletsRegionNorth America
  • EUR/USD clearance of earlier highs helping trigger broader losses for the USD in recent trade - with GBP/USD now nearing earlier highs to extend that bounce off the 200-dma support posted mid-August. 
  • Resultantly the USD Index continues to trades heavy having broken to new multi-month lows earlier on Monday. Weakness through 101.340 would be new YTD lows. Move in currencies not coinciding with any shift in OIS pricing - but appears to be more closely linked to firming equities from the open - the e-mini S&P is pressing on the overnight high. 
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  • EUR/USD clearance of earlier highs helping trigger broader losses for the USD in recent trade - with GBP/USD now nearing earlier highs to extend that bounce off the 200-dma support posted mid-August. 
  • Resultantly the USD Index continues to trades heavy having broken to new multi-month lows earlier on Monday. Weakness through 101.340 would be new YTD lows. Move in currencies not coinciding with any shift in OIS pricing - but appears to be more closely linked to firming equities from the open - the e-mini S&P is pressing on the overnight high.