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USD Recovers From Earlier Dip


The USD is a touch firmer versus earlier dealings, the BBDXY back to 1224.75, versus earlier lows around 1223. US yields are holding close to session highs, particularly at the front end (2yr at 4.21%), but the dollar move is outperforming yield trends at the margin on an intra-day basis. Weaker equity sentiment, with HSI Tech down in early trade, coupled with lower US futures, is likely aiding the USD recovery.

  • USD/JPY is back to 134.25/30, with dips sub 134.00 still supported. AUD/USD is off highs, but still near 0.6725 and outperforming other majors at the margins. NZD/USD is close to 0.6200.
  • USD/CNH is also higher, back above 6.8800, versus earlier lows around 6.8730.

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