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Yen Bought & USD Steady As Risk Worsens
In the last 24h of trading activity, the Pound, the Yen, and in a lesser magnitude, the US Dollar, were the best performing currencies. The British currency was mainly driven by a jump in the UK employment figures, even if the positive input has barely budged bond traders, still assigning fairly high chances of a rate cut by the BOE next week (around 70%). The Yen’s strength, as it’s been the case this year, has emanated due to panic buying. It was the case when Iran and the US engaged in a tug of retaliatory offenses which never amounted to the worst fears, and sadly, an episode of a virus outbreak in China ... (full story)