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"We would not have expected these market moves at the start of the year," Deutsche Bank, wrote Tuesday, noting the recent decline in the dollar.

The oversold condition in the US dollar seems to be a factor in the early Thursday trading of Forex markets. This is a calming that is probably somewhat needed at the moment.

Saravelos noted that the tender may also be dropping amid signs that it is losing its status as a safe haven among global investors. Declining correlation between the dollar and risk assets ...