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Central Bank Intervention Can't Be Far Off as US Debt Talks Stall
The increasing possibility that interest payments will be missed on US Treasuries poses serious risks to the global financial system and could trigger rounds of central bank intervention should USD go into free fall. The political stalemate in the US, should it become protracted, could result in a major sell-off of USD, particularly against safe haven currencies such as JPY, CHF and even the EUR. For traders this would present a lucrative one-way bet, at least for a short while. Both Japan and Switzerland have central banks, which have very publicly demonstrated a commitment to capping the rises of their currencies. ... (full story)
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