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What per week to be alive in FX land! July’s remaining act delivered extra plot twists than a Netflix thriller. The massive driver was seemingly Trump’s tariff blitz, hitting everybody from Switzerland (ouch, 39%!) to India.
We additionally watched the Fed play hard-to-get with fee cuts regardless of two governors virtually begging for relieving, and ended with a jobs report so weak it despatched merchants scrambling to reprice September Fed odds. Between geopolitical & commerce uncertainty, and the greenback’s dramatic end-of-week reversal, this was the form of week that separates the FX veterans from the rookies.
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