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USD Weakness Continues, Fed's Goolsbee Comes Across As Dovish

FOREX

USD weakness has continued in the first part of Wednesday Asia Pac trade. The BBDXY is off 0.10%, as the index tracks near 1231, threatening to break sub Tuesday lows.

  • A number of currencies have already breached Tuesday highs against the USD. USD/JPY got close to 147.00 (last 147.10/15), which is fresh lows in the pair back to September.
  • NZD/USD is 0.6145/50, briefly touching above Tuesday highs.
  • While AUD/USD is at 0.6655/60, sub Tuesday highs, while EUR/USD is above 1.1000 also sub Tuesday highs.
  • USD/CNH is down through 7.1300, which is below Tuesday lows.
  • US Tsy futures have ticked higher, a continuation of Tuesday's trend (last 109-20, +03).
  • Comments from Chicago Fed President Goolsbee, a FOMC voter, came across as dovish earlier, stating that rates staying high for a prolonged period would be a “concern” (see this link).
  • Coming up in a little while we have AU CPI, then the RBNZ decision after.
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