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Morgan Stanley ZC SP REDEEM 30/04/2020 USD 40 - 617480280
The dollar's performance last week is best understood as the fulcrum of the seesaw. The major currencies that are perceived to be levered or growth and/or risk rose. These are the dollar-bloc and the Scandis. The Swedish krona sold off before the weekend, perhaps as the market anticipates a weak CPI report that may reinforce ideas that the rate hike at the end of last year was not the start of a tightening sequence.
Sterling actually led the advancers with a 1.2 gain. It was firm all week but was bid higher on speculation that