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Geopolitical risks and hawkish Fed lift dollar but outlook determined by US fiscal policy
The US dollar staged a late rebound last week after coming close to breaking below its recent support level of 110 yen. Investor nerves ahead of the summit between the US and Chinese presidents as well, as the risk-off generated by the US airstrikes on Syria, had driven the dollar to a 1½-week low of 110.12 yen on Thursday. Unexpectedly strong signals from the Fed that it will likely start the process of normalizing its balance before the end of the year also rattled the markets. The final blow came from the disappointing US jobs report on Friday, which briefly pushed the dollar close to Thursday’s lows. However, ... (full story)
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