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USD is still moving higher

CROSS ASSET
  • Despite equities trading circa flat and Govies underpinned (a touch lower in Yields), the Dollar is still going and extending to new highs against the Pound, CHF, AUD, EUR, NOK, as the street gears up for Fed Powell later.
  • Gold stays offered on the back of it, but the precious metal is still fairly far from the initial support at $1804.9 - Low Feb 28 and the bear trigger.
  • Support in Cable is at 1.1915, the February low.
  • AUDUSD has cleared the 2023 low, with next downside support now at 0.6629, the December low.

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