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Euro & Global Yields Sold, ECB QEII May Overshoot
Two of the currencies most punished in recent times, the Aussie and the Pound, kept finding buying interest as the market adjusts expectations over the timing of the next RBA rate-cutting decision given the strong Aus jobs, while a no-deal Brexit is marginally priced out as labor leader Corbyn looks to join forces aiming for a no-confidence vote. In stark contrast, the market was alienated against the Euro this time, as ECB's Governing Council member Rehn hinted that an overshooting of the upcoming QE2 is preferable. On the contrary, the market kept finding solid reasons to keep a bid in the USD as domestic economic ... (full story)