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Enjoy the Greenback Strength While You Can
The U.S. Dollar Index is easily a comfortable “buy” than “sell” considering the Fed’s most recent taper and this coincides with the upward surge seen on the dollar. However, today’s Unemployment Claims were nothing to celebrate: A slight 3k upward revision for last week’s number and a miss (348k versus 331k) for this week’s number. Thinking the Fed would change course with the expected taper as the Turkish lira was melting down was misplaced, however unemployment data misses and Janet Yellen taking the helm February 1 could take the swagger out of the current rally.