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Month-end Consolidation Featured Ahead of Next Week's Key Events
The US dollar is consolidating, largely within yesterday's ranges. Month-end and quarter-end hedge and portfolio adjustments are notoriously difficult to predict. There is also large option expires today. Given the EU Summit this weekend, a holiday in the US on Monday, and no fewer than five central bank meetings among the high-income countries next week, the broad consolidative, even in choppy, tone is likely to carry into the weekend. There are four new pieces of macro-economic puzzle that have been delivered today. First, With the ECB being the most likely central bank to ease policy next week, and given the ... (full story)