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The recent rally on USD has begun to fade slightly this morning as Treasury yields tick lower. This is helping commodities and equity markets to build support.
A bias of negative risk appetite and USD strength is beginning to develop once more. However, ahead of Nonfarm Payrolls, a traditional consolidation is setting in this morning.
There has been an edge of recovery forming on the USD early this week. The move has also weighed slightly on risk appetite. This comes ahead of a key speech by Fed Chair Powell later today.
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