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Commodity currencies suffer as US-Asia trade relations take a different turn

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Commodity currencies suffer as US-Asia trade relations take a different turn

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It was a quiet day on the U.S. dollar front as stock markets were closed to pay their respects to the late President George H.W.Bush.

The Dollar Index (DXY) remained flat trading in a tight range after reaching an intraday high of 97.20.

The latest Beige Book Report - a summary of commentary on the current economic conditions by the Federal Reserve District – was released yesterday. It showed that most districts saw modest to moderate growth over the last two months as consumer spending held steady despite a tightening in labour market conditions.

Markets look to ADP non-farm employment figures - a forerunner to tomorrow’s Non-Farm Payrolls, and a speech by Fed Chair Powell.


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