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USD Dollar Tracking Yields Higher, NFPs Eyed
The US Dollar advanced broadly on Thursday with USD price action strengthening against its Japanese Yen and Australian Dollar peers in particular. This looked largely owed to another extension higher in US Treasury yields and calm returning to Capitol Hill after yesterday’s clash. On balance, the DXY Index gained 0.3% for the session and now challenges its negatively-sloped 8-day simple moving average. chart The broader US Dollar also seems to be recoiling higher off its bottom Bollinger Band as bulls attempt to make a push and keep the relative strength index from sliding back into ‘oversold’ territory. This ... (full story)