Mining GFC, Brexit versus Fed

A pansy Fed hit the US dollar though I put it to you that were it not for Brexit it would fallen a lot more:

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Yen is firm, euro weak:

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Commodity currencies all jumped:

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Gold launched and is threatening to break out:

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Brent oil is weak:

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Base metals has a Fed moment:

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Big miners enjoyed a suicidal squeeze higher:

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But US and EM high yield held up:

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US bonds were heavily bid and shares sold.

It’s Mining GFC and Brexit versus a Fed with no gumption. If Brexit is a fizzer then the commodity complex will launch.  If Brexit gets a yes then even oil is going to be in trouble it seems. And if oil goes, then expect markets to enter crisis.

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