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Credit Suisse nicely summarises my own views today.
Here we go again
The deterioration in signal-to-noise ratio remains the dominant trait of recent FX market price action, with the broad USD trading near the middle of the Q4 range thus far, pulled in opposite directions by an increasingly wide variety of factors.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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