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USD unwinds early gains ahead of the NY......>

DOLLAR
DOLLAR: USD unwinds early gains ahead of the NY crossover. The European morning
session promised much but failed to deliver with major currency pairs continuing
in narrow range trade as we approach month/quarter and 6 mth end. EURUSD based
at $1.1527 and has since recovered to the $1.1570/75 area as the USD backs off
earlier traded highs. GBPUSD bounced off 7-mth lows ($1.3066) to briefly make a
show back above $1.31. NZD remains the weakest in G10, currently trading off
earlier multi-year lows ($0.6752) at $0.6768. USDJPY flirts with the 200-dma
around Y110.20. DXY failed to breach last week's highs and has since drifted to
95.25. Gold holds in the middle of its $1248-1254 range. Focus on US GDP and
Jobless Claims at 1230GMT. 

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