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Dow Jones futures in the red below 33k this morning
As I write this update the dollar is now losing some traction and once again it is the USD/JPY that is leading the move lower. That has now dropped back towards 148.75 and that is allowing the EUR/USD to lift again and having the same impact on the GBP/USD. Hence, the USD Index (USDX) has just now dipped below the 107 handle. However, these moves are not yet having a positive impact on stocks. The DAX just now hit a fresh session low, close to 14,950 and the US futures are still in the red. The Dow Jones only narrowly avoided a close below 33k last night, after hitting a session low at 32,916. The index closed at 33,002. Today the Dow futures have priced a reopening to as low 32,815, but they are a little above that now, currently indicating the reopening at around 32,880
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