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Heading North


Modi, AMLO Top Major Economy Leader Poll, Macron Last


Under Pressure


Trend Condition Remains Bearish

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  • Weakness in the Japanese Yen was the main feature of Tuesday's trading session, comfortably the weakest currency among its G10 counterparts.
  • USDJPY edged higher throughout Tuesday, regaining the 114 handle with recent price dips continuing to be considered as corrective and a bullish trend remaining intact. Strong overall sentiment helped AUDJPY lead the way, rising 0.55%.
  • GBP had a fairly volatile session following EURGBP breaking to the lowest levels since February 2020 at 0.8403. This coincided with supportive price action in cable, reaching 1.3830 before a strong bid in the dollar prompted a sharp reversal back to unchanged on the day around 1.3765.
  • The strong bid in the greenback throughout the US session will likely mean a second consecutive day of gains for the dollar index, albeit with limited ranges overall.
  • Australian CPI will be released overnight before the US reports Durable Goods data. The Bank of Canada headlines the latter half of Wednesday's docket. The ECB will meet on Thursday.