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Dollar Begins Mostly Slightly Lower, and Risk is On to Start the Week
Investors thought about the world over the weekend and decided it did not look so bad. Global stocks and bonds are higher today, helped by favorable economic data and corporate earnings. The dollar is lower against most major and emerging market currencies. The pullback is modest. The Australian dollar is leading the majors with a 0.4% gain. The others are up less than half as much. Among the emerging markets, the South African rand is in the post position, with almost a 0.9% gain, while the Thai baht and Mexican peso next, but up less than half as much (~0.35%). The MSCI Asia-Pacific Index is up 0.4%. Chinese shares ... (full story)