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Dollar index (USDX) extends gains above 104 as USD/JPY edges towards crunch levels

Following on from the previous update, the USD/JPY is still grinding higher and inexorably towards those noted levels. At the same time the EUR/USD has now dipped a little further below its 200 day moving average (still at 1.0840), but not quite taken out the low seen yesterday (1.0835). Irrespective of whether that happens, or not the USD index (USDX) has extended its gains above the 104 handle today. That has come as a result of the weakness in the Yen and the Euro and to some extent in the Pound too. So, now that the index is above 104 today, it is clear the market is potentially expecting a not so dovish decision from the Fed this evening. However, time will tell on that prospect and it remains to be seen where the dollar will end by the close tonight 

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