USD: BBDXY - Price Action Remains Conspicuous, Testing 1205-1207

The BBDXY range overnight was 1202.83-1206.89, Asia is currently trading around 1205. The US Dollar had another crack at challenging the pivotal 1205-1207 area. It has failed at the second time of asking but this price action continues to catch the eye as risk trades firmly on the front foot. The US Dollar continues to lag and diverge from the rebound seen in the broader market. A sustained break back above the 1205-1207 area would have me thinking we could potentially see the USD turn higher again. Though while US equities and broader risk continues to build on their rebound it does make this harder to envisage. While the market works through how it wants to proceed, I suspect we could continue to see a range of 1197-1207 play out. * Zerohedge on X: "Al Arabiya reports that a breakthrough between America and Iran is possible but requires multiple steps; the New York meeting between the American and Iranian delegations broke the deadlock in the negotiations." * Craig Tindale: "Bessent is the House & Gold is the Tell." Article - * The BBDXY Average True Range for the last 10 Trading days: 3.65 Points Fig 1: BBDXY Daily Chart Source: MNI - Market News/Bloomberg Finance L.P