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Whereas the preliminary wave of actual cash USD hedging flows upset some sellers, many consider there may be extra to come back
When considerations about incoming tariffs earlier this yr led to the US greenback shedding its conventional function as a risk-off protected haven that had cushioned non-US investor returns for years, market individuals anticipated a rush of greenback hedging.
However as they returned to their desks this month after northern hemisphere summer time holidays, the important thing query that the promote facet had been asking was whether or not this dynamic had run out of steam.
“That is the large query all yr. And truthfully, if I had a pound each
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