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Trade wars continue to haunt the markets
As Washington’s deadline to impose tariffs on China draws near (as per media), markets seem to be in an unease state. China’s finance minister stated that Beijing will “absolutely not” be the one instigating a trade war and levy tariffs. On the European side, German Chancellor Merkel raised the specter of trade wars as she stated that a US tariff on cars could be even more serious than on steel and aluminium. Should there be further headlines on the issue we could see volatility rising according to FX pair. •EUR/USD continued its sideways movement yesterday testing the 1.1640 (S1) support line. We see the ... (full story)
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