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USD Perky Pre-NY Hours

FOREX
  • After a sanguine start to the session, the greenback has bumped higher pre-NY hours, with the likes of GBP/USD and AUD/USD plumbing new session lows on relatively little newsflow. The somewhat erratic move higher in the greenback saw markets scrambling for a news driver, but the more likely catalyst is a thin market (much of Europe out for Whit Monday, although not a full bank holiday) and still fragile market sentiment.
  • Equities are rangebound, but still holding above support, but that's provided little support for AUD, and NZD, which are among the session's weakest performers. NOK trades well given the still supported oil price, with EUR/NOK rolling off last week's highs as WTI crude futures narrow the gap with $65/bbl.
  • There's little on the data slate to snatch attention Monday, with the speaker schedule likely to hold more focus, as Fed's Brainard, Mester, Bostic and George as well as BoE's Bailey, Cunliffe, Haldane and Saunders all on the docket.
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