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US Dollar Softens to Start the New Week
The capital markets are looking for direction. Asia Pacific equity markets were mixed, with gains in China, Hong Kong, and Taiwan countering losses in Japan, South Korea, and Australia. European and US shares are trading slightly firmer. Benchmark bond yields are mostly 1-2 basis points lower in Europe, and the US 10-year yield is off nearly three basis points to 68 bp. The dollar itself is heavy. Only the New Zealand dollar has been unable to gain traction against the greenback. The liquid, accessible emerging market currencies, especially in eastern and central Europe (with the exception of the Polish zloty), are ... (full story)