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Relative large flows went through some of the major IMM currency pairs during a week that saw the broad-based Bloomberg Dollar index decline by 0.4%. Overall, the changes left the gross dollar long down for a fourth week to USD 18.8 billion, a 40% reduction since reaching a five-year high on 23 April. Traders bought 24,320 euros contract (USD 3.3 billion ...
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Two key European Central Bank figures on Monday threw their weight behind the prospect of an interest rate cut next week, indicating that it is practically a done deal. In a speech on Monday, Olli Rehn, ECB governing council member and head of Finland’s central bank, stressed that inflation in the euro area was falling in a “sustained way.” Inflation in the ...
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