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Dollar Index: Intraday Analysis & Forecast

The “selloff in yields across the curve is strong evidence of the intense focus the market has on this week’s labour market data,” with the ADP employment report due on Wednesday and non-farm payrolls on Friday, said IG analyst Tony Sycamore.

With markets all but certain the Fed’s next move is a cut, dovish rhetoric from European Central Bank officials and the Reserve Bank of Australia’s decision to hold policy steady on Tuesday have stoked bets for a peak in rates globally. The Bank of Canada is widely expected to adopt a wait-and-see attitude on Wednesday as well.

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