Investors have started 2013 in an optimistic mood and as confidence returns, evidenced by surging global equity markets, the safe haven trades of 2012 are being jettisoned, evidenced by the slump this week in global bond markets. FX markets have responded by pushing the dollar higher. Barring a rapid turnaround this afternoon in USD sentiment, following the release of US non farm payrolls, a high close tonight would imply further strength over the rest of the month against the EUR and GBP.
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Barclays Capital