Tue. Oct 20th, 2020

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Dollar improving as risk aversion grips

1 min read
Usd
The dollar is nudging a little higher on the session and has erased earlier losses against most major currencies barring the Japanese yen. This comes as we see the risk-off mood accelerate with the DAX now sliding by 2% and US futures down by a little over 1%.
Despite USD/JPY taking a crack under its 31 July low @ 104.19, the greenback is also seeing some inflow for now as risk aversion grips the market.
For EUR/USD, we are seeing price action challenge some key near-term levels with the confluence of the 100 and 200-hour MAs @ 1.1839-40 called into question.

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