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FXstreet.com (Barcelona) - TD Securities analysts say that, for the moment, "the market is ignoring the looming battle over the US debt ceiling (even as officials make it clear that alternatives to a deal are few and far betweenthe Treasury has ruled out the "platinum coin" move and the White House stresses that there is no plan 'b') and weak growth signals from Europe", which puts safe havens in a downward position. "Instead, investors are focusing onlow volatility and yield pick up where it can be found in the FX space (AUD, NZD mainly)", wrote analysts Shaun Osborne and Greg Moore.

"While risk/FX correlations have weakened in the recent past, we continue to feel that either a major downturn or a significant extension of the recent stock market rally will influence spot trading", they added, pointing to a struggling S&P 500 at September/October highs and scope to the upside through most of H1 due to seasonal factors.
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