The dollar has traded softer in early week trading, once again correlating inversely with global stock market direction. The narrow trade-weighted USD index (DXY) logged a three-session low of 89.60 as EUR-USD clocked a two-session high of 1.2334. USD-JPY has ebbed for a fourth consecutive session, logging one-week lows under 106.50 after a rally in early Tokyo stalled at 107.21. Stock markets have rallied today in Asia, and Japan’s Nikkei 225 closed 1.2% for the better.
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