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Lowest common denominator
- Investor sentiment has retained a cautious tone over the past week.
- At the same time, the rise in bond yields, especially in relation to France has been a significant feature of the action on financial markets.
- From a currency perspective, the French fiscal and political risks as well as wider Eurozone politics (German regional election results and upcoming snap election in Spain) have created a challenging backdrop for the euro.
- Turning to the week ahead, the main focus will be on monetary policy decisions from the ECB, the Fed and the BoJ.
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