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Gold dragged lower as dollar rebounds

Gold turned back south and hit fresh daily lows as the dollar staged a strong comeback during the American session, dragging the metal down.

Spot retreated from a daily high of $1,289 an ounce all the way towards $1,271/oz before finding support. XAU/USD was last at $1,280 an ounce, still 0.47% down on the day.

Nevertheless, the yellow metal is about 20% higher this year as expectations of a Fed rate hike have been delayed amid global growth concerns.

USD/JPY: the broad shift in in the USD - Scotiabank

Analysts at Scotiabank explained that Japan’s local holiday has left JPY vulnerable to whipsaw movement and a series of erratic Asian session swings hints to the potential for a shift in its vulnerability from knee-jerk JPY strength (USD/JPY drops) to knee-jerk JPY weakness (USD/JPY spikes).
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NZD/USD: challenging major support line below 20 dma

NZD/USD is currently trading at 0.6875 with a high of 0.6941 and a low of 0.6859.
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