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USD Offered On Upticks, USD/JPY Testing Downside Support At 100-day MA

FOREX

The market bias is happy to fade USD upticks. The BBDXY sits close to session lows in recent dealings, last near 1230.15, which is sub Tuesday session lows and down a further 0.20%.

  • JPY strength is the main focus point as we approach the Tokyo fix. USD/JPY has slipped under 147.00, +0.40% firmer in yen terms (last near 146.80/85). This also puts the pair sub its 100-day MA (around 146.90), for the first time since April.
  • The AUD has shrugged off the weaker than expected CPI print. We are back to 0.6655, close to session highs, after a post data dip to 0.6637.
  • NZD/USD is near 0.6150, as the RBNZ approaches.
  • EUR/USD holding above 1.1000.

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