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USDJPY Sinks as Hope of Swift Recovery Fades

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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

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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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