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The recovery in risk appetite that began last Friday has continued to develop in the first half of this week. This is ushering in a near-term unwind of USD strength and recovery in equities.
Oil has fallen significantly in recent weeks. Driven by recession fears and faltering inflation expectations, this leaves Brent Crude testing crucial support.
Looking back at the past week, it seems that most asset classes were stuck in their recent ranges, except for DXY which finally broke out of the range, closing above 102.
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