Forex
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With a holiday-impacted start to the week, major markets are seeing consolidation setting in. This comes ahead of a crucial meeting of the FOMC which begins today.
With a deluge of central bank decisions, major markets have been buffeted higher and lower throughout the week. The wild ride continues on Friday morning, with the USD strengthening once more and indices trying to rebound.
With traders strongly positioned USD positive, the potential for a near-term “long squeeze” is growing. This could help to pull pairs such as EUR/USD and GBP/USD higher, whilst commodities and indices are also ticking higher.
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