There will be blood
It has been a volatile week in financial markets, with several economic releases and earnings announcements being important drivers. But arguably the most dramatic move was the rally in oil prices to record highs, which was related to other factors - specifically, increasing evidence of a severe tightening of supply conditions in the oil market. Consistent with this move, the best-performing G-10 currencies last week included the CAD and NOK. However, we think the underlying economic prospects
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