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USD index (USDX) edges higher as US yields rise
Yesterday the dollar was the strongest currency amongst its major peers, despite relative strength the time in the Yen and the CAD. However, as just noted the Yen is weakening today and has now set a new 2023 high a short while ago, at 147.94. The GBP/USD has now backed off from a modest rise above its 200 day moving average (now at 1.2433), reaching 1.2446 earlier. The pound is now back around 1.2415 as the USD/JPY pushes higher and the EUR/USD stalls ahead of earlier highs at 1.0669. The upshot of this, is that the USD index (USDX) is rebounding from an earlier session low at 105.17. Yesterday the index did just surpass a technical resistance level at was in place at 105.38. The high posted last 105.43 and the index later closed around 104.35. It is just now lifting back above 105.25
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