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Greenback Consolidates Last Week's Surge
After surging at the end of last week, the dollar is consolidating today. Stepped up verbal intervention by Japan's currency chief Kanda and a slightly weaker dollar fix by the PBOC seemed to take the wind from the dollar sails. Except for the Swiss franc and Swedish krona, the G10 currencies are showing a slightly firmer tone. Emerging market currencies are mixed, with central European currencies leading the advancers. The Taiwanese dollar drew support from last week's unexpected rate hike but most of the other Asia Pacific currencies traded with a heavier bias. With the exception of Australia and India, the large ... (full story)