Analysts at Brown Brothers Harriman explained that even though the conflict in Syria can rapidly escalate, investors were feeling more comfortable with risk over the last few days.
"The US trade rhetoric was toned down several decibels, and this helped. US President Trump saw signs of concessions from China's President Xi speech.
Trump suggested that negotiations were underway and that an outcome in which there are no new tariffs implemented is still possible NAFTA negotiations were also promising.
Equities rallied and the currencies that often do well when short-term participants have a greater appetite for risk, like the dollar bloc, did well, and the currencies used for funding, like the yen and Swiss franc did relatively worse."
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