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Traders Gear Up to Embrace Riskier Assets After Debt-Cap Deal
Global markets are primed for a relief rally after US negotiators agreed to a tentative deal over the weekend to resolve a debt crisis that has battered risk sentiment in recent weeks. The US dollar, which has benefited from angst around the statutory borrowing limit, edged lower against most Group-of-10 peers as trading got underway in Sydney. Liquidity is set to be thin Monday, with US and UK markets closed for national holidays, although US Treasury and S&P 500 Index futures will trade. Investors had flocked to safety in recent weeks as the so-called X-date — the day on which the Treasury expected it ... (full story)