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Cornered FX Traders Brace for Dollar to Smash More Asia Records

“It’s difficult to call a turning point and the default is to not fight dollar strength,” said Viraj Patel, a strategist at Vanda Research in London. While there’s opportunity to start buying beaten-down peers like the yen, “the path of least resistance is that these hawkish Fed trades — dollar strength being one of them — continues until something stops it.”

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