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Forex Flash: Dow Jones on record high, but easy-money fuelled move not to last - Societe Generale

The market reaction is changing, says Kit Juckes, head of currency strategists at Societe Generale, who argues that despite "the Dow may made a new all-time high, and asset prices from housing to wine to art to the FTSE will all be dragged higher in the US equity market’s wake, fewer and fewer other markets are following suit and that is as clear a sign as any that the whole hyper-correlated easy-money fuelled move is running out of steam."

Session Recap: Market on Dollar pro-risk mode

With a risk appetite boosted by upbeat data from the services PMI prints and the US stocks market in a 'sea of green', the USD is trading firm against its major competitors. While the EUR/USD remains pegged at the 1.3030 area, the GBP/USD's recovery has been capped at 1.5200 and launched to the 1.5100 zone.
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Wall Street rallies with the Dow Jones closing at all time high

The US stocks market closed higher on Tuesday on the back of upbeat European data and overall risk appetite. Wall Street is back to pre-crisis levels and the Dow closed above 14,200 for the first time.
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