Preferred Strategy: Neutral. The short term momentum indicators hint at a mild topside squeeze although while fears of further tension between the US and N Korea remain the focus the dollar is going to find it hard to make much of a recovery. The dailies appear to be picking up increasing downside momentum so selling rallies towards 110.00 would seem to be the plan, with a SL placed above 110.15 but looking for a return to 109.00/108.70.
Economic data highlights will include:
M: Japan GDP (Q2)
T: Industrial Production, Capacity Utilization
T: Trade Balance
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