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With the PBoC cutting its reserve requirement ratio there has been a move lower in the USD and a reaction higher in commodities. This is helping equities to rebound too.
After a choppy session yesterday where the USD saw a strong rebound on hawkish Fed comments, there is another swing this morning. USD is lower as risk appetite has recovered.
Sentiment remains negative across major markets, allowing the US dollar to continue to strengthen, whilst indices are being sold off. The new week is starting where the old one left off.
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