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GBPUSD: Bulls on the Run After Failing to Hold Break Above Key 1.5480 Level
Over the last few weeks, there’s been plenty of volatility in stock, bond and commodity markets, but for the most part, currencies stubbornly stayed within their recent ranges. That all changed this morning, when just a modest beat on US Core CPI reinvigorated dollar bulls and led to a big breakout in the dollar index (see this morning’s report, “Could the Dollar Index Join the Century Club?” for more). This morning’s big move in the world’s reserve currency seems to have finally shocked forex traders out of their stupor, leading to more volatility across the board. One of today’s biggest moves has been ... (full story)
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