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Are Risk Appetites Recovering?
The Antipodeans and sterling lead the G10 currencies today. The New Zealand dollar is the strongest, though the central bank is likely to deliver its first rate cut tomorrow. The Australian dollar rose to a three-week near $0.6610. Sterling was lifted by a stronger than expected employment report (though wage growth slowed) ahead of tomorrow's CPI. The yen and Swiss franc nursing modest losses. Emerging market currencies are mostly stronger, with a few central European currencies (not the Polish zloty), and the South Korean won and Taiwanese dollar nursing small losses. Risk appetites appear to be healing. Outside of ... (full story)