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Fed-Led Recession or FOMO on Current Rally?

US dollar weakness and stock market sluggishness as Bitcoin strengthens. Meanwhile, the Fed takes a breather whilst the UK's Bank of England is set to hike interest rates

June 18, 2023

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CAPITAL FLOWS IN GLOBAL MARKETS

On Friday, a stock surge that had seemed unstoppable and was propelled by Wall Street's fascination with AI stalled.

After reaching 14-month highs earlier in the week, a measure of global stock markets paused on Friday, while the US dollar fell to mark its worst weekly decline since January after the week's heavy central bank meeting schedule.

The MSCI All-World index edged lower but remained near its highest level since mid-April 2022.

The S&P 500 halted its winning run. Wall Street finished with losses but had strong weekly gains.

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