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Dollar Edges Higher Ahead of Month-End and Key Events
The US dollar remains firm against most of the major currencies to start what promises to be a critical week for investors. There are two main considerations. The first is the last minute position adjustments ahead the key events that begin with the IMF's SDR decision later today, running through the start-of the month data (especially PMIs), central bank meetings in Australia, Canada, and then the big one, the ECB. The US monthly jobs report and the OPEC meeting cap the weeks. The second consideration is month-end plays, where fund managers adjust positions and hedges. There were two important developments over the ... (full story)