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Thursday, 05/09/2024 10:43:25 AM

Thursday, May 09, 2024 10:43:25 AM

Post# of 364524
FX Update:
FX Update: the DXY has extended its drop to 105.355 but is keeping its head above the 104 support level, last seen on a closing basis on April 9. The buck has slumped against all its G10 peers except for JPY, where USD-JPY sits at 155.53 as the market disrespects the verbal intervention BoJ Governor Ueda and Finance Minister Suzuki. Concurrently, GBP-USD has clawed back post-BoE losses and is now at 1.2509 after the knee-jerk drop to 1.2446. Meanwhile, the weakening in the dollar s helping underpin gains in gold and oil which are also being supported by geopolitical factors with an eye on events in the Middle East. Gold is 1% higher at $2333.22 per ounce, and oil is up 0.5% to $79.37.

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