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Event risk cranks up a notch
A changing USD risk narrative. France gets Moody’s relief. Mind the Budget gap.
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Pound strengthens as data cements BoE hike
AI concerns keep pressure on dollar. Downside risks persist despite euro holding 1.12. UK inflation seals the deal for BoE hike, supports GBP.
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The dollar’s pause, not the euro’s opportunity
AI rebound steadies sentiment. Positioning reflects euro caution. UK labour market surprises support pound.
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Dollar dented by AI doubts
USD retreats from 18-month highs. Euro bear case unchanged despite bond rally. Pound jumps to 1.33 on dollar weakness.
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Higher energy, higher rates
Reflation narrative remains in control. Fiscal fears will keep euro under pressure. Europe makes sterling look good.
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Euro stretched but still vulernable
Fed, fiscal and oil risks remain supportive for US dollar. Five weekly declines on the trot for euro. Pound rangebound, but risks remain.