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The index has been toppy above 93.000...

The index has been toppy above 93.000...

It would be easy and perhaps convenient to say that recovery momentum has simply run out of steam given the scale and relative speed of the Buck’s rebound, but the index has been toppy above 93.000 on each occasion it has attempted to vault the big figure, and the DXY has already clawed back an impressive 133 or so ticks from 91.737 y-t-d trough to 93.074 top in under 48 hours. Moreover, the US services ISM has not given the Greenback a manufacturing survey style fillip and caution or defensive positioning may be setting in for Friday’s monthly jobs data. Meanwhile, the Treasury curve is back in bull-flattening mode amidst a tech-led downward correction on Wall Street to remove another Dollar prop ahead of comments from Fed’s Evans. Note, auction details for next week were somewhat mixed and taken in stride.



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