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USD rebound likely a position adjustment and correction

USD index rebound slightly in Asian session in effect of last Friday’s trend continuation. But steady US stock and 10 years UST yield at 2.88% will still have some support for USD. Overall, USD bearish trend remain intact and Friday till now rebound seem as position adjustmnet and correction more likely.

USDJPY grids higher as Nikkei goes up and further YEN cross short coverings. But overall downside risk remains on price capping under 107.30-40 region.

GBP pulls back to 1.4 as the market remains to worry for Brexit uncertainty and EUR also retraces down to around 1.24 with basically tight move around NY Closing levels.

Today US, Canada, China and HK holidays in without any risk event, it might expect more slower and orderly move for the day. Later Eurozone Current Account Balance, Construction Output as well as BOE’s Governor Carney speech might have small intraday impact.

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    At Hantec Global Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.