A partial reversal in recent positioning themes has been seen, with the dollar bloc and pound softening against the dollar, and the yen outperforming. This dynamic has been concomitant with global stock markets flagging, though Japan’s Nikkei 225 gets a special mention for bucking the trend in rallying to a fresh 29-year high. A fall in Chinese tech stocks, sparked by Beijing regulators launching an antitrust investigation, led a broader paring of recent gains in equity markets.
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