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Currency Market Analysis

Global Themes

The U.S. dollar pushed to new highs Monday in holiday-thinned trade. The greenback notched 2018 peaks against the euro and sterling and climbed to its strongest in four months against the yen. News of a truce in U.S.-China trade tensions boosted currencies with close ties to global growth such as the Canadian and Australian dollars. Elevated U.S. Treasury yields, with the 10-year keeping comfortably above 3%, continued to weigh on emerging markets. The Mexican peso hit a March 2017 low while the South African rand descended to a December trough. The dollar has rallied nearly 5.5% since mid-Apr

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