Choppy price action above the slew of 117.00-20 bids that are reportedly in the market. Fresh rumours of a hawkish US advisory article may have helped the Dollar to 117.45 on the lift from 117.26 but offers are closing in on the market and a return to the 117.63 European highs will be a struggle.
In line September US expenditure data, an upward revision to the August release and a hawkish line from Fed's Lacker failed to trigger a strong Dollar rally but should help to keep US yields towards their session highs. USD/JPY is looking like 117.20 to 117.50 with the sub-117.00 stops still very much at risk.
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