Difficult Road Ahead?

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We expect the high yielding currencies to be under pressure today against the US dollar, as some of the major economic indicators in the Asian region, from China and Japan, today, point to a gloomy scenario for the global economy. There seems to be no relief for China on the manufacturing front, as Chinese PMI shrunk for a third consecutive month in September, the longest contraction since 2009. A lower-than-expected growth in Japanese industrial production in August, coupled with deteriorating manufacturing PMI in September, has reinforced market concerns about the global recovery.

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Difficult Road Ahead?

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