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USD Moves To The Top Of The G10 FX Table

FOREX

A firmer USD has started to assert itself after a fairly non-committal start to Asia-Pac dealing, with the greenback moving to the top of the G10 FX table. No doubt the early moves higher in USD/CNH & USD/JPY have played into the broader USD uptick. More broadly, the likely 50bp hike from the Fed on Wednesday, coupled with global recession fears and the expectation for further Fed tightening is playing into the USD bid at the start of a new week. Broader liquidity is limited by the previously flagged holidays across several major Asian financial centres & London, with headline flow very limited thus far.

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A firmer USD has started to assert itself after a fairly non-committal start to Asia-Pac dealing, with the greenback moving to the top of the G10 FX table. No doubt the early moves higher in USD/CNH & USD/JPY have played into the broader USD uptick. More broadly, the likely 50bp hike from the Fed on Wednesday, coupled with global recession fears and the expectation for further Fed tightening is playing into the USD bid at the start of a new week. Broader liquidity is limited by the previously flagged holidays across several major Asian financial centres & London, with headline flow very limited thus far.