Analysts at Scotiabank explained that they think the USD remains an attractive buy for a number of reasons.
"Positive US data, Fed policy divergence, more balanced spec positioning and USD-bullish technical signals. Pro-risk sentiment is providing a modest bid for the AUD and NZD on the session so far while the GBP and the CHF are under-performing.
The CNY was stable against the USD today but rose to its highest level in a month against its broader basket measurement after PBoC money market ops resulted in a net withdrawal of liquidity from the system."
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