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It has been a couple of days since the last update here on the progress of the Dollar index (USDX). In that time the broader measure of the US currency has fallen back from a high at 108.51 seen last Friday, to a low seen yesterday at 106.96. That low coincided with the push to 1.0533 in the EUR/USD. Well, today it has been on the rebound after edging higher into the US close last night. In fact the index has gap-opened higher today and lifted to a high so far at 108.02. That may not be the top of the shop today though, as the GBP/USD mad EUR/USD remain under a degree of pressure right now. We shall have to see if that remains the case, as early US players step back into the markets. US yields are still holding modest gains which is supportive, but the USD/JPY is still well below its earlier session high at 155.98. Consequently, the dollar index has slipped back below the 108 handle for the time being
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The Bank of England (BOE) has just announced the outcome of its monetary policy decision. The overwhelming general consensus was for a cut of 0.25%...
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