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The dollar continues to remain on the back foot as the mood of risk strengthens in European trade. Asian stocks are trading higher and US futures are also staying in positive territory, underpinning for example the Aussie and the Kiwi.
That said, gains in the Aussie were brought back close to 0.7000 earlier, with the high touching 0.6983, but buyers are still firmly in control.
The euro also takes a look above the 1.1200 bar against the dollar, with currency concentration turning to the ECB meeting tomorrow.
The market continues to take things with a half-full glass approach as the risk rally continues to expand. The Nasdaq is approaching a historic high, but keep in mind that global risks are still a key factor in trading this week.
That being said, investors have dismissed them – especially that of US-China tensions – for the most part since the end of last week. But let’s see if there will be any surprises.
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