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Dollar under pressure again with majors breaking key levels
The dollar remains under significant negative pressure this morning as a huge sell-off has driven major markets through key levels in the past couple of sessions. The move has taken the Dollar Index below 91 to levels not seen since January 2015. The most high profile move has been for EUR/USD to breakout to three year highs, however we have also seen Cable up at its highest level since the day that the UK voted to leave the EU. Furthermore, this morning, with the yen strengthening we have Dollar/Yen dropping to multi month lows. There has been a catalogue of factors driving this move, but given that US core CPI ... (full story)