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Dollar index (USDX) reclaims 104.00 as EUR/USD closes in on support at 1.0862
As noted in the previous update, the dollar sure is on the rebound right now and that has delivered a fresh low for the EUR/USD, as it falls closer to the noted first support level at 1.0862. This in turn is seeing a return to above 104 in the dollar index (USDX) for the first time this week. The move higher has also delivered further upside in the USD/CNH and I remind what was said about that pair and the Chinese economic outlook yesterday. The USD/CNH is now closer to the 7.17 handle this afternoon. The USD/JPY is gaining further traction too and close to the next potential resistance level (also touted here earlier today), at 149.53.
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