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USD Index Back Close To Unchanged, NZD & JPY Underperforming

FOREX

The USD BBDXY index is almost back to unchanged as we approach the London/EU crossover (last near 1238.2). USD/JPY has risen to fresh highs around 148.65, despite the earlier verbal FX jawboning from the FinMin.

  • This is highs in USD/JPY back to late Nov last year. USD yields are firmer, but aren't at fresh session highs at this stage. US equity futures are still in positive territory but away from best levels.
  • NZD/USD is the other weak performer, the pair back testing support sub 0.6100 and around the simple 200-day MA (0.6091).
  • AUD/USD is back to down slightly, last near 0.6570, but is outperforming JPY and NZD still.

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