The dollar has dropped around 9.5% from its peak, a measure of the greenback, the Cable FX Macro Dollar Index is now testing support near last year lows
The level also coincides with a 50% fib retracement level of the rally that started early 2022
So far in January, the Australian dollar leads gains in the G10, followed by sterling and the kiwi. NOK is the only currency to post losses vs the dollar this month

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