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There is a more cautious feel to major markets in the past 24 hours. A strengthening USD is being bolstered in the wake of the FOMC minutes whilst profit-taking is threatening indices.
With the Fed doing little to push back against market positioning for the pivot in monetary policy, risk assets have been boosted. USD is weaker with equities breaking out.
The USD has been gaining ground once more in recent sessions. This remains the case this morning as traders look ahead to US Retail Sales. GBP is in focus as UK inflation hits double digits.
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