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Currency Market Analysis

Global Themes

Lira in focusThe US dollar continued to climb yesterday with key global sharemarkets experiencing further losses as the Turkish currency crisis continued.The Turkish lira fell another 7.0% versus the US dollar yesterday but recovered from steeper losses as the Turkish central bank reduced local reserve requirements to boost liquidity.The US’s Dow Jones index fell 0.5% while Japanese shares lost 2.0% and Chinese shares fell 0.3%.Safe havensThe USDCNY climbed 0.6% as it traded to new one-year highs.The safe havens were the best performers in other markets.The Australian and new Zealand dollars b

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