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USD bulls seem to have awaken in late Asia yesterday along
with the rise in UST yields. That lifted most USDAsians, including
USDJPY, last seen around 111.00. USDSGD is now back above the
1.38-figure. This could be the start of the USD recovery although future
economic data very much matter. Overnight, the positive correlation
between oil and the USD broke down again. This suggests that the USD-oil
relation that we witness since Feb could very well be a temporary...
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