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US dollar gets end of day offer as risk trade weakens


End of the month in play?

We may sell the preview of a large month-end rebalancing today due to strength in stocks in October and weakness in bonds. It is being reversed and it is helping to boost the dollar.

USD / CAD is at a post-BOC high and AUD / USD has failed the Asian high and has now moved lower.

It’s hard to put together a cohesive narrative today due to the big move in bonds and volatility elsewhere, but that’s often how it goes at the end of the month.

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