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USD Gains To Accelerate On Risk Sentiment, JPY Unfazed By BoJ
Although the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains relatively flat from the open, the shift in risk-taking behavior should prop up the reserve currency over the remainder of the week as it benefits from safe-haven flows. In turn, we are still looking for another run at the 10,000 figure as the index preserves the upward trending channel from earlier this month, but the dollar may consolidate over the next 24-hours of trading as the 30-minute relative strength index falls back from overbought territory. Nevertheless, we will maintain our bullish forecast for the USDOLLAR as the developments ... (full story)