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USD remains underpinned

CROSS ASSET
  • The Dollar has resumed its uptrend, as US 10yr Yield extends to a 1 Month high, brushing aside the Risk On mode in US Equities and especially tech stocks, with Nasdaq futures (NQH4) at a new record high.
  • Next resistance in Nasdaq comes at 17285.43-0.764 projection of the Dec 4-Dec 28-Jan 5 price swing.
  • The Yen continues to be the worst overall performing currency this year against the Greenback in G10, down some 5% in 2024.
  • USDJPY printed a 148.81, but failed to test the 149.00 handle for now.
  • In terms of Technical, next resistance is at 149.16 76.4% retracement of the Nov 13 - Dec 28 bull leg.

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