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Concerning economic data out of China and subsequently, a huge negative surprise in the NY Fed survey is shifting flow back into the USD.
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.
As US Treasury yields have started to pick up in recent days, there is a rebound forming on the USD. Risk appetite has soured, not helped by rising COVID cases in China.
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