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Dollar Whipsaws Confuse Technical Picture
The US dollar was whipsawed ahead of the weekend. The greenback had been pulling back following the soft core PCE deflator the day before, and losses accelerated after the disappointing US August employment report. However, a report citing unnamed European officials warned that the ECB might not be ready to decide on its asset purchase program as many expected at the meeting on September 7. This spurred a reversal of the euro and helped lift the dollar more broadly. One currency the was resilient in the face of the greenback's recovery was the Canadian dollar. It was the strongest major currency before the weekend ... (full story)
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