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EM currencies tried to stabilize and bounced yesterday with MXN and RUB rallying strongly. The initial EURUSD gap higher to 1.1820 was quickly faded to 1.1780. Speculative positioning published on Friday suggest a too large dollar speculative short positioning, especially in light of Italy’s situation which could translate into the ECB having missed the chance to tighten in this cycle (data are now coming much weaker and the situation in Italy is complicating matters). As a result, we do not read as high the chances of a meaningful rebound in EURUSD over the near term. 

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BentinPartner Advisers, Basel Important Disclaimer © Copyright by BentinPartner llc. This blog is not intended as a recommendation, an offer or solicitation for the purchase or sale of any security or underlying asset referenced herein or investment advice. Investors should seek financial advice regarding the suitability of any investment strategy based on their objectives, financial situation, investment horizon and particular needs. This blog does not include information tailored to any particular investor. It has been prepared without any regard to the specific investment objectives, financial situation or particular needs of any person who receives this report. Accordingly, the opinions discussed in this blog may not be suitable for all investors. You should not consider any of the content in this report as legal, tax or financial advice. The data and analysis contained herein are provided "as is" and without warranty of any kind. BentinPartner llc, its employees, or any third party shall not have any liability for any loss sustained by anyone who has relied on the information contained in any publication published by BentinPartner llc. The content and views expressed in this report represents the opinions of Marc Bentin and should not be construed as guarantee of performance with respect to any referenced sector. We remind you that past performance is not necessarily indicative of future results. Although BentinPartner llc believes the information and content included in this report have been obtained from sources considered reliable, no representation or warranty, express or implied, is provided in relation to the accuracy, completeness or reliability of such information. This blog is also not intended to be a complete statement or summary of the industries, markets or developments referred to in the blog.  #DollarIndex @federalreserve #ForexMarket #ForexNews #USD #USTreasuries #TradeWars #Markets 


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