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USD Remains Bid into Month End – Video Analysis

Market Analysis

USD Remains Bid into Month End – USDJPY picked up some demand while most other dollar pairings have traded narrow ranges so far today. There had been reports yesterday of yen demand into the end of the first half of the fiscal year in Japan, though USDJPY still has rallied, returning focus on the two-and-a-half-month high seen on Wednesday at 113.25. While markets are now taking a more circumscribed view of Trump administrations tax plans, the Fed’s course further tightening is still promoting dollar demand on dips. A batch of data today out of Japan had little impact on forex markets, although encouraging. Core CPI lifted in September to 0.7% y/y, industrial production rose 2.1% m/m, and retail sales gained 2.8% y/y.


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Stuart Cowell

Senior Market Analyst


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