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With news of significant advances for the Ukraine Army over recent days, financial markets are seeing traction in a risk recovery. This is hitting USD hard this morning.
Markets are reacting to another higher than expected print in the US CPI data. USD is strengthening again, whilst this is bad news for Wall Street.
After another big upside surprise in US CPI, markets are increasingly pricing for a potential 100 basis points Fed rate hike in July. The USD has strengthened once more and this is weighing across asset classes.
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