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Currency Market Analysis

Global Themes

America’s dollar kept to largely measured paces but its biggest move Thursday was a gain against the yen. The dollar soared nearly a percent to one-week peaks against its Japanese counterpart as global markets cheered OPEC’s tentative deal to reduce oil production among its members which boosted risky assets at the expense of safer ones. OPEC’s deal, which isn’t official yet, was seen as a small gesture to help tackle oversupplied oil markets, the big weight that’s driven prices lower, though the understanding it reached exceeded markets’ low expectations. Oil-exposed commodity currencies were

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