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USDJPY Sinks as Hope of Swift Recovery Fades
Confidence in the greenback has been shattered as the US is still grappling with a record surge in infection cases. Now that President Donald Trump has raised the possibility of delaying the November presidential election, markets saw this as a confirmation that the recovery would take much longer than expected.
Perhaps this week’s jobs data could offer some relief? An upbeat number may help lift the dollar in the short-term, though investors may favor the Japanese yen as a safer bet in the weeks to come.
The sell-off is heading toward 103.00. More selling interests could be around 107.20 in case of a rebound.
EURGBP Slides Ahead of BoE Guidance
The US dollar’s weakness has helped both currencies to gain strength over the past few days. But the cross is struggling to rise above last June’s high for lack of a fresh catalyst.
The Brexit noise is likely to stay subdued until new negotiations in September. The focus is now on who would fare b...
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