Forex Today: The US dollar stumbles despite a risk-off environment

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Forex Today: The US dollar stumbles despite a risk-off environment
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Forex Today: The US dollar stumbles despite a risk-off environment By fx_ross DollarIndex USDJPY Equities EURUSD

Risk-off was the theme on Thursday across most markets. Being the final day of the month, quarter, and half-year, there were some important developments which keep the outlook for the new quarter concerning global growth.

In FX, DXY extended above 105.000 but fell sharply with the Yen regrouping as yields drop. The dollar rally remains largely intact, given rising worries about a global recession, although data on Thursday was far from impressive and did nothing to allay concerns about the US economy sinking towards a recession.

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