USD, SEK, NZD flows: Further oil bounce on Lebanon obstacles

Latest from Tasmin News agency has Iran negotiators stopping message exchanges with the US over attacks on Lebanon, with no talks until Iran’s demands on cessation of operations is met. Oil extending the bounce, up $5 on the day and further rejecting last week’s tests of the 50% retracement. Ongoing disappointment and cooling in hopes for any imminent interim agreement could see Nymex tend the downtrend break, back to the to 94.70/86 area (recent highs and the old 38% mark). Dollar extends it renewed bid particularly on the likes of NZD and SEK.