Financial Trading
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Despite markets continuing to price for more Fed rate hikes, major equity markets remain buoyant. The glass seems to be half full on Wall Street as positive US data points to a softer landing for the US economy.
As concerns over the US banking crisis begin to ease market sentiment is recovering. With bond yields higher, this is weighing on the safe haven of the JPY.
The ECB has held rate steady today, but has laid out clear forward guidance for its first rate hike in July and further hikes later in the year. The EUR has been supported by this.
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