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The recovery in risk appetite which has driven indices strongly higher in recent sessions and facilitated a USD correction has stalled on the final day of the month.
A positive start to the week ebbed away into the close on Wall Street as bond yields progressively moved higher and the USD strengthened. This legacy continues today as markets trade with caution.
Swinging moves from the FOMC statement to the Powell press conference but in short, the Fed is not yet ready to pivot. Markets are reacting and the USD is strengthening once more.
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