After five years of near-zero cumulative growth since the pandemic, Germany’s recovery is unlikely to accelerate without policy reform and an increase in net investment, supported by its significant fiscal space.
The Aussie has pulled back from the 200 Day EMA on Tuesday, as the US Dollar has seen a bit of a resurgence ahead of the FOMC meeting.
The yen slipped Tuesday, suggesting the Japanese government's efforts to prop up the currency have had limited impact. Data released Tuesday by the Bank of Japan suggested the intervention amounted to tens of billions of dollars. Masato Kanda, who is in charge of currency intervention as vice finance minister for international affairs, said Tuesday that Japan was ready to act in the foreign-exchange market 24 hours a day.
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