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USD Liquidation As China Reinvigorates Risk
Ever since the news of a Chinese delegation heading back to Washington on Aug 21-22 for renewed trade talks broke out during Thursday’s Asian session, fresh bouts of ‘risk appetite’ made its way back to the FX market. By NY 5pm, the Oceanic currencies (AUD, NZD) came on top as the outperformers, followed by a solid recovery in the Euro, while Sterling’s strength remains unimpressive. The Swiss Franc, the Japanese Yen and to a lesser extent the US Dollar all printed losses for the day, with the Loonie being an outlier, as it losses nearly as much as the Japanese Yen despite a fairly robust ‘risk on’ ... (full story)