Talking Points:

- The US Dollar put in a failed test of the 2018 high during yesterday’s session, and prices are posing a shallow pullback after that resistance came into play. This has produced a short-term bull flag formation in USD as shown in ‘DXY’ below.

- The rest of this week has considerable headline interest around the Greenback, as today brings the May FOMC rate decision and Friday brings Non-Farm Payrolls for the month of April. Tomorrow brings Euro-Zone CPI, so there are non-USD items of interest, as well; but the predominant focus across FX markets will likely be squarely centered around the US Dollar.

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