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Espresso Morning Call: USD mixed as commodities tick higher
Renewed upside in the oil price is helping to fuel gains for oil majors on equity markets, with indices pulling higher as a result. However, this will also stoke inflation fears once more, leaving the USD outlook mixed today.

Positioning on major forex is increasingly a “fear trade”
High volatility is pushing traders into safe-haven positions. The US dollar and Japanese yen are strong performers, at the expense of higher risk plays.
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