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Dollar Squeeze Remains Intact
The initial reaction by investors to Janet Yellen’s speech at Jackson Hole was one of elation, however, the euphoria has been short lived, as markets now adjust to a more “hawkish” FED – equities down, dollar up and treasury yields rallying. The timing of the U.S’s first-rate hike is always going to be an issue, but the September meet is now very much in the crosshairs after Jackson Hole. Aiding the ‘big’ dollars stellar performance overnight has been the rhetoric from other central bankers at Jackson Hole. The Bank of Japan’s (BoJ) Governor Kuroda reiterated that there is ample space for additional ... (full story)