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USD Index Prints Fresh Cycle High, FOMC & Copom Decisions Due

LATAM
  • Risk appetite took an early knock in European hours as President Putin began his delayed address to the nation, confirming that a partial mobilisation is effective today across Russia. The decree sees reservists called up to the armed forces, with the Kremlin looking to use imminent referendums as justification to send in more troops to defend what they see as newly-earned Russian soil.
  • As a result, the USD Index printed a new cycle high of 110.869 before moderating around 30 pips. Obvious focus turns to the September FOMC decision and release of its summary of economic projections.

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