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USD index continues to grids up lead by lower GBP move

USD index continue to grid up with higher USDJPY and lower GBP leading the move. 10 years UST yield stays around 2.9765% and both DJI and Nikkei retraces slightly that will expect limiting the further upside gains for USD.

Tonight FOMC meeting expected rate keep unchanged at 1.75% with policy statement without any big surprise as well. Also, US ADP employment change data, ISM NY index, Eurozone GDP and unemployment rate together with UK Construction PMI will have some intraday impact. Overall USD remain supported with yield and if FOMC meeting nothing happened as expected will have some risk for USD running healthy pullback.

EUR and GBP position stretched in short term and some adjustment more likely.

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