The Japanese yen continued its journey to the downside, assisted by speculation about intervention. It may be a good time to intervene when the dollar is recovering anyway. The Australian dollar continues to feel the heat from lower commodity prices and speculation about an RBA rate cut and the kiwi is finally carried away as well. In Canada, things are improving with the Alberta fires but production is low. It's a lose-lose situation for CAD. EUR/USD remains in a very stable range after the Eurogroup ended with lots of smiles but no real agreement. How long can they kick the can down the road?
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