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Trump's Blink Makes Risk-Off Trades Stink
Well, well, well, it's definitely getting interesting to see Trump caving in. I must admit, I did not, nor did the rest of the market, see this one coming. Testament of the surprise by everyone and their dog is found in the rampage of volatility hitting the forex market as a market long-sided funding currencies scrambled to the exits the moment it was revealed that the US is essentially walking back on the increase of tariffs by 10% to China. High-beta G10 FX flew and never looked back. The decision by the Trump administration to cave in, even if it will never be recognized in public, seems to be a clear admission ... (full story)
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