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Dollar Recoups FOMC-Sparked Losses
The US dollar turned in a mixed performance last week, but the gains before the weekend, perhaps partly in anticipation of a tax bill, helped it finish well. Still, in the face of the Fed's rate hike, the continued signal of three more in 2018, underscores the frustration for dollar bulls. Nor did the yawning premium required to secure dollars through the cross-currency swap market over the turn of the year lend the greenback much support, though against the euro, the premium was the most since the European crisis nearly six years ago. The dollar was sold on a slightly softer CPI report than expected and the FOMC ... (full story)