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FX: Immediate support for safe havens has faded slightly – Danske Bank

According to Daniel Brødsgaard, analyst at Danske Bank, the immediate support for FX safe havens has faded slightly as global risk appetite continues to recover, supported by trade talks,.

Key Quotes

“We think risk assets will be challenged for some time still, which means that cyclical currencies could come under renewed pressure near term – and we note that the latest uptick in EUR/USD was once again rejected before reaching 1.15.”

“Today, focus will be on the FOMC minutes ahead of a series of Fed speakers over the coming days: there is a risk that markets could be a bit disappointed as to how responsive the Fed will indeed be to risk sell-offs given the latest repricing; this could keep a hand under USD near term.”

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