Steen JakobsenSteen Jakobsen , Chief Economist & CIO, Saxo Bank
Denmark, 15 August 2012 at 06:57 GMT+0
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FX: US dollar is relatively too weak considering the less and less chances of full blown QE from the FED. I remain extremely sceptical on the on the three H's: Hope, Holiday and Help, and its effect on the markets.

USDJPY is about to break higher and would be my favorite play on US dollar strength from here. A break of 79.00 could lead us to test old recent highs of 80.50 and 83.50.

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