Flash: USD rally hinges on Fed clues – Investec

The euro faltered on the back of this before giving up all of its gains when it was announced yesterday evening that the Italian sovereign rating was downgraded to BBB with a negative outlook by the ratings agency S&P, noted Lee McDarby, Corporate Treasury at Investec.
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Flash: FOMC expected to build hawkish tone – Deutsche Bank

Fed tapering is set to dominate the discussion again today with the release of minutes from the FOMC's June 19th meeting, notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank.
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