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Flash: It´s been a choppy 24 hours for the dollar - BMO Capital Markets

FXstreet.com (Barcelona) - Stephen Gallo notes that it´s been a choppy 24 hours for the dollar, with positioning squeezed across most G10 pairs.

He sees that USD/JPY has settled a little in the London session, but he still feel there is a danger of a further bout of position/risk adjustment, in what could be messy day in front of the long weekends in the U.S and U.K. He writes, “Still favour USD long positions but feel we may once again see better levels to add/reload. Durables, this afternoon a big number or a miss will provide some more action.”

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