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Euro-US Dollar Ascendant as Popular FX Trades Slide with Global Markets
The Euro-to-Dollar exchange rate was in the ascendancy alongside perceived safe-havens on Tuesday as global stock markets appeared to follow Chinese indices lower and recently popular currency trades went tentatively into reverse. Europe’s single currency was up from 1.1770 in early European trading and levitating back above 1.18 against the Dollar having risen alongside the Japanese Yen and Swiss Franc, while the greenback itself advanced against a majority of other currencies. The biggest fallers in the G10 segment of the major currency space were the Norwegian Krone and New Zealand Dollar, both being currencies ... (full story)