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USDJPY TECHS

Consolidating But Remains Bullish

EURGBP TECHS

Recovering, But Not Through Resistance

GBPUSD TECHS

Consolidation Mode

EURUSD TECHS

Bearish Threat Remains, Despite Intraday Rally

COMMODITIES

Gold Bumped to New Multi-Month Highs

DOLLAR
DOLLAR: USD underperforming all but the AUD in the G10 FX space at writing
(albeit modestly in most cases), with the JPY on the front foot after the Tokyo
fix.
- Trump's continued lambasting of Fed policy and his assumptions re: his rights
of replacing Fed Chair Powell & no need to seek congressional approval to launch
an attack on Iran (although he doesn't plan to do either at present) per
interviews with The Hill, coupled with the seemingly impending Fed easing cycle
continue to weigh on the greenback.
- The DXY's break of the 96.00 level opens the Mar 21 lows/76.4% retracement of
the Jan-May rally/Mar 20 low at 95.83/81/74. Bulls initially need to reclaim
broken uptrend support drawn from the 2018 lows (located at 96.433 today) to
regain some poise.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com