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USD bounces, Hot CPI fails to lift AUD, JPY softer on rising US yields
The USD saw decent strength in Wednesdays session, with The US Dollar Index (DXY) rising from an open of 104.67, pushing through the resistance at 105 to hit a high of 105.14 on the back of firmer US Treasury yields. Despite this rally DXY is heading into the end of the month looking to have its first monthly decline since December 2023. Ahead today we have US GDP as well as several Fed speakers, including Williams at the Economic Club of NY. chart JPY declines against a resurgent USD with rising US yields pushing the US10Y-JP10y rate differential higher. USDJPY remained above 157.00 and pushing to a high of 157.74 ... (full story)