**As seen in Macro Walk report 02/24/23, cablefxm.co.uk/reports
Our measures of FX spot relative to its respective 100DMAs show dollar pairs regressing to the U.S. dollar as it strengthened across the board
The regression to the mean was more evident in the NZD/USD and USD/JPY pairs, the former recorded a 7.10% 100DMA to spot differential a month before, now it stands near flat at 0.76%
In the yen, the extension was the largest seen in three years as the spot reached readings below -8.0% vs its 100DMA, now it stands at -1.87%
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