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Is the Dollar set for a correction?
With two huge driving influences yesterday, Wall Street closed fairly mixed on the day, with the S&P broadly flat, a Twitter inspired NASDAQ almost 0.5% higher and the Dow around 0.2% lower. The Advance (first reading) of US GDP jumped by 4.0% which was way above expectation, however the market was perhaps a bit nervous of what this might mean for monetary policy and there was a caution amongst traders. The Federal Reserve however, pretty much stuck to its guns on dovish monetary policy, with an expected $10bn taper. There was little regard given to inflation, although it was moving “somewhat closer to the ... (full story)