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Markets have been boosted by falling European gas prices and the prospect of China re-opening. However, it will not be plain sailing in the weeks ahead.
After the precipitous falls of earlier in the week, GBP is decisively recovering. UK assets have been temporarily stabilised, with lower US yields also helping broader market sentiment.
The picture of the outlook for central banks moving into 2023 is becoming a little clearer. As markets move towards the end of a tumultuous week the USD is emerging as a winner, whilst risk appetite has soured.
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