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US dollar is on the ropes
•The US dollar selloff has continued; it's been mostly EUR and JPY based •Both gold and silver made strong gains last week •There is 92.3% implied probability of December hike by the Fed •Market sentiment seemed to return to discounting good economic data for USD and focusing on strong Eurozone data. •German GDP beats 2.8% against 2.3%e. •DXY was pulled back by the latest tax plan twists. •Three new HK IPOs Yixin (2858), Bestway (3358) and Sun Hing (1975). •Forex: US selloff continues, still predominantly EUR and JPY based; AUD and NZD were even more heavily sold last week, with falls of 1.27% and ... (full story)