[MARKET ANALYSIS] DXY steadies following Monday's selloff as investors seek safety
Importance
Level 1
- DXY continues to hover above 99.00 but off last week’s peak of 99.479 as investors move into havens amid re-emerging trade tensions.
- EUR/USD pulled back slightly, following Monday’s bid, to a trough of 1.1633 before rebounding and returning just shy of Monday’s high of 1.1649.
- GBP/USD oscillates around the U/C mark but comfortably holds above 1.34 ahead of key UK employment data.
- USD/JPY trades choppy around the 158 handle despite the absence of news amid a continued rise in JGB yields.
- Antipodeans outperform their G7 counterparts, especially the Kiwi (+0.3%), despite no clear driver.
- USD/CNH briefly strengthened to a trough of 6.9522 as the PBoC sets USD/CNY mid-point at 7.0006 vs exp. 6.9576 (prev. 7.0064).
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