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Oil is up on supply concerns (there are market dynamics playing out also of course, part of the reason for the jump in price is short covering and longs either holding (not selling) or more longs getting in looking for further price gains).

Gold is up in response to geopolitical turmoil. Update:

In the hours just passed the FX market played the role of shock absorber. Flows were into the USD and, to a lesser extent yen (here’s why).


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