The USD saw headwinds from expectations that other central banks normalize monetary policy earlier than the Fed and lower US Treasury yields. US Treasury yields rebounded strongly back to yesterday's highs, supporting the USD. We expected the USD to rebound slightly after losses overnight / during the early European session - which was correct, however, our pair remains out of the money. On the other hand, our LONG position in the GBP and NZD pushed even deeper in profit. The JPY remains weak. We update all our open FX trades.
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We made massive profits being SHORT in the JPY in previous weeks and will continue doing so.
