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Greenback's Pullback is Extended, but Getting Stretched
Investors seem undeterred by the firm oil and gas prices and have taken stocks and bonds higher today. Stronger risk appetites are also evident in the foreign exchange market, where the dollar is weaker against most currencies. The JP Morgan Emerging Market Currency Index is higher for a third day after falling for the previous six. The strong recovery in US equities yesterday encouraged the MSCI Asia Pacific Index to extend its advance. It has now risen in five of the past six sessions. Europe's Dow Jones Stoxx 600 gapped slightly higher, and US futures indices are poised to also gap higher. The US 10-year yield ... (full story)