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The people have spoken: they want the U.K. out of the EU. The political and economic uncertainty will weigh on the pound and European currencies, which will help the dollar. Commodity currencies are proving resilient, sniffing out a wave of reflation. The G7 gave Japan a green light to intervene. Buy gold in yen terms.

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One macro framework for rates, FX, credit, and commodities, helping investors connect cross-market signals and position with clarity and conviction.

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