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Dollar pressured after dovish FOMC meeting minutes
Between February and April the markets were hit by increased geopolitical tensions and concerns over trade wars. Having seemingly been put to bed, these tensions have resurfaced in recent days, leading to markets taking on more of a risk averse position. This has been exacerbated overnight as the US Department of Commerce will investigate automobiles imports into the US on a “national security” basis. On a general level this steps up the protectionist agenda again, but also has hit automobile stocks and indices in Asia overnight, with the automobile companies on the DAX sure to feel the heat today. Primarily this ... (full story)