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Short Squeeze Lifts Euro and Yen, More to Come?

From marctomarket.com

It was a difficult week for the dollar, stocks and commodities, to say the least. The Chinese yuan, which had been a catalyst for some recent volatility, stabilized, and actually finished the week slightly firmer. A dovish read of the FOMC minutes and the continued decline in oil prices dampen ideas that the Fed would hike interest rates in the middle of next month. The 2-year US Treasury yields eased more than nine basis points to 0.61%. Slower world growth and the sell-off of US stocks helped push the 10-year yield below 2.05%. It had approached 2.50% in the second week of June. The US dollar took a drubbing ... (full story)

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