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In Uncoordinated Steps, Japan and China Help Slow Greenback's Rally

From marctomarket.com

The Bank of Japan Governor Ueda hinted the world's third-largest economy may exit negative interest rates before the end of the year. This sparked the strongest gain in the yen in a couple of months and lifted the 10-year yield to nearly 0.70%. In an uncoordinated fashion, Chinese officials stepped their rhetoric and indicated that corporate orders to sell $50 mln or more will need authorization. This helped arrest the yuan's slide. The Australian dollar is up the among the G10 currencies and is often particularly sensitive to Chinese developments. All the major currencies are firmer against the dollar today. The ... (full story)

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  • Category: Fundamental Analysis