After some positive news from the US and upbeat markets on Friday, we are back to worrying. The G-20 summit had quite a few interesting statements but few practical decisions. A hung parliament in Ireland joins a hung parliament in Spain and falling stocks in Asia. This all boosts the safe haven yen against the rest of the currencies. EUR/USD is suffering from weak inflation figures that imply even more action from the ECB. The pound seems unable to recover from Brexit fears that were echoed in the summit. All in all, the light at the end of the tunnel seems far once again.
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