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Real money ralphs commodity currencies

By   || October 8, 2008 at 16:20 GMT
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US real money accounts have been belated sellers of the commodity currencies, reluctantly cutting out of longs as the global growth story implodes. Big breaks like those seen overnight force corporates to hedge exposures and prompt options books to buy dollars in thin, rising markets. Commodity currencies are off their earlier lows but are in sell-the rallies mode until global turmoil begins to steady. There is no sign of that yet, unfortunately.

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