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US Dollar Offered but Stretched Intraday
The US dollar is trading heavily against all the major currencies, led by Norwegian krone and euro. Emerging market currencies are also firmer. However, risk-appetites seem subdued. Even though most large bourses in Asia Pacific advanced but Japan and Hong Kong, European markets are nursing small losses and US futures are little changed. Benchmark 10-year yields are firmer with European yield1-s 3 bp firmer and Italy’s premium over Germany slightly narrower. The 10-year Treasury yield is up three basis points to 2.78%. Gold is firm, knocking on the recent cap below $1800. September WTI settled near $90.75 yesterday ... (full story)