After a huge run of USD strength in recent days, there is a mild kickback this morning, with the USD paring gains against major currencies. We also see indices finding support amid a broad rebound in risk appetite.
The EUR will be a key mover this week. With the ECB forum on central banking and Eurozone inflation, key moves in bond yields and currency crosses could be seen.
Fed Chair Powell has opened the prospect of less aggressive monetary policy tightening. Markets are breathing a sigh of relief this morning and risk appetite is staging a near-term recovery.
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