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Think this is weakness in the dollar because the markets think European and Japanese IRs are to rise.

Dollar Falls After Fukui and Issing Suggest Rates May Go Higher

Dec. 8 (Bloomberg) -- The dollar fell the most in eight days against the yen and the euro after Japanese and European policy makers suggested they will raise borrowing costs.

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Treasuries strengthening too wayne. Looks like folks are thinking remaining US rate rises might be priced in / GB is gonna start playing catch-up. Comparative short position of commercials and small traders working here too, flagged later on your thread : http://www.housepricecrash.co.uk/forum/ind...ndpost&p=239424

When will we see the FED raise their rates at greater increments to compensate and where does this leave the BoE? Do they just care about the US$ or are they obliged to follow the ECB's stance?

Think you'll find folks are suspecting that the US may start to decelerate tightening whilst UK increases, relatively speaking. That could of course merely mean no change here, whilst the US stops tightening, or it could mean more. This could explain the firming of the £ vs $ (if you like explanations - and I don't).

Edited by Sledgehead
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