RRP usage surged to $268.739B this afternoon from $196.818B Thursday. Compares to $98.356B on Friday, December 20 - the lowest level since mid-April 2021. The number of counterparties climbs to 63 from 54 prior.
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Markets underwent a corrective bounce Wednesday, despite the dominant downtrend in the pair. The pair continues to trade closer to its recent lows, with moving average studies in a bear-mode set-up. Sights are on 1.2446, the May 9 low. Initial firm resistance to watch is at 1.2739 the 20-day EMA - a level not tested on the Wednesday recovery. The short-term bounce is considered corrective and allows an oversold condition to unwind.
US President-elect Donald Trump has nominated retired General Keith Kellogg to serve as Assistant to the President and Special Envoy for Ukraine and Russia, a new position created by Trump to hasten the end of the war.