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Beta Currencies Re-Anchor With Macro Intermarket Trends
As the US-China trade negotiations drag on, and with the official tariffs deadline of March 1st likely to be extended, there is no denying that last Friday’s price action in the currency space reflects optimism about the outlook for a positive resolution. As a result, the beta currency complex (AUD, NZD, CAD) enjoyed a field day last Friday, with the adjustment in valuations also a clear function of the discounted prices these currencies, especially the Aussie and the Loonie, traded at. The characteristics of the market remain dominated by risk appetite macro wise, with both the Yen and the US Dollar on the back ... (full story)