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Some AXJs (like the THB, PHP and KRW) have made modest
gains against the USD post weaker-than-expected US data. However,
these gains could be short-lived as there is the potential for a
retracement ahead which could see the dollar possibly firming. The FOMC
minutes on 18 Aug and Fed’s Jackson Hole symposium (26-27 Aug) will
be in focus the week after where Fed Chair Yellen’s every word will
be scrutinize for any hints of a rate hike...
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