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The US Dollar is doing what gravity says it should. Fed Chair Kevin Warsh may have told the Sintra crowd that "inflation risks have come down," but markets are pricing a 67% probability of a rate hike by September — and they're not wrong. The yield gap between the Fed's 3.5-3.75% target range and the BOJ's 1% rate is a chasm that favors the dollar and keeps carry trades humming. If Thursday's Nonfarm Payrolls print of a forecast 110,000 jobs comes in...
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