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The Bank of England has joined other major central banks in hiking today. However, unlike others, the move is seen as bordering on a dovish disappointment.
The risk recovery of the past week is on pause this morning. Markets have turned cautious ahead of the two key risk events of the week, the ECB meeting and US Advance GDP.
Positive results on Wall Street have enabled a rebound in indices to gather pace this morning. However, the USD continues to strengthen, with an additional boost after yet another dovish confirmation from the Bank of Japan.
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