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FXstreet.com (Barcelona) - Equities and commodities press higher, but the reaction in FX land is not entirely of the classic 'risk on' nature, according to TD Securities analysts: high yielders (such as commodity currencies) being the outperformers and low yielders (such as the CHF and the JPY) being the underperformers, "suggesting a return of the carry trade may be the clearest trend this morning", conclude analysts Shaun Osborne and Greg Moore, pointing to Fed Bernanke's speech later today as the main focus, while disappointing EMU and Italy industrial production being ignored by investors.
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