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- Economic picture remains robust, despite geopolitical concerns.
- Core inflation remains sticky in many markets, with risks still tilted to the upside.
- Central banks will continue on a cautious downward trajectory in 2025 given current uncertainties.
- Main currency pairs exhibiting volatility due to Trump 2.0 impact.
- Dollar likely to hold most of the gains in the near term, but could lose some momentum later in 2025.
- Potential for euro to strengthen as political risk (German elections, France fiscal policy) begins to dissipate.
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