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State of Dollar Bull Market
The Federal Reserve's real broad trade-weighted dollar fell for the first three months of 2017, and the greenback's heavy tone this month has raised questions about the state of the bull market. Despite this recent weakness, we think the bull market is intact and that the advance will resume. In the February through April last year, the real broad trade-weighted measure of the dollar fell. Many investors doubted the bull market was intact. The greenback proceeded to rally seven of the following eight months. In 2015, this measure of the dollar fell in three of the 12 months, and two were back-to-back (April and May). ... (full story)