As we had suspected, the risk premium in FX assigned to events in Egypt wore off in yesterday’s European session. EURUSD quickly climbed off the 1.3570 base to 1.3750 as traders realized that regional contagion was a remote possibility. The sterling has been on a tear since its dreadful GDP printed with the cable trading up to 1.6135 today. Asian equities are moderately stronger at the time of... ...More...


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