Currency markets turn "risk on"; Aussie crosses $0.8 for first time in 3 years | Reuters - 0 views
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The dollar index dropped on Thursday, risk currencies rose to three-year highs and the euro continued its surge against the Swiss franc, as currency markets were boosted by dovish signals from the U.S. Federal Reserve.
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Easy financial conditions, the promise of fiscal stimulus and accelerating COVID-19 vaccine rollouts have driven money into what is known as the reflation trade, referring to bets on an upswing in economic activity and prices.
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market participants expect the bull run in global stocks, fuelled by cheap liquidity and reflation hopes, to continue for at least another six months.
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