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US Stocks Hit Record Highs, Which Currencies Benefitted the Most?
All of the major currencies traded sharply higher today on the back of strong gains in U.S. equities. Risk appetite has been healthy throughout the week but today investor optimism carried the S&P 500 and Dow Jones Industrial Average to record highs. These moves also drove EUR/USD, GBP/USD and USD/JPY to 2-month highs. While a stronger than expected Philadelphia manufacturing index and lower jobless claims report contributed to the rally, trade relief is the main reason why investor sentiment is so strong today. The trade war hasn’t disappeared but aside from limited retaliation by China, tensions did not ... (full story)
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