Narrowing Spreads Fail to Lift Euro, Dollar Holds Below JPY100

There are two main developments today. The first is the disappointing flash PMI readings from China and the euro zone. The second is a continued rally in European bonds in both absolute terms and relative to Germany. The reduced risk premium in Europe has not coincided with gains in the euro, but…

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Narrowing Spreads Fail to Lift Euro, Dollar Holds Below JPY100

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