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The USD strength has been the major play of the week, with significant levels now being broken on forex pairs. Commodities are also impacted, whilst indices are threatening corrective moves.
MENA investors have taken a hit from the collapse of Credit Suisse. However, the shares of Saudi National Bank have managed to bounce back.
With limited surprises in the FOMC minutes, market reaction has been fairly restrained. There is little change to a recent strengthening outlook for the USD.
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