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Wave of Renewed Dollar Selling Accompanied by Volume Spike in Futures

USD
  • Further greenback selling pressure one hour out from the London close is providing fresh impetus for new daily highs in EUR/USD, GBP/USD, while USD/JPY is circling the overnight low at 138.08.
  • Currency futures volumes have been ahead of average for the duration of the Thursday session, with sizeable volume spikes accompanying the US PPI/Weekly jobless claims data as well as a sharp round of activity at 1441BST/0941ET, which helped pressure the USD Index to a new daily low.
  • CME EUR futures saw over 5,000 contracts change hands on the move for a cash equivalent of just over $750mln - helping aid a round of fresh lows in the greenback.

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