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Greenback Continues to Consolidate Recent Losses
The US dollar is sporting a softer profile across the board, though remaining largely in the ranges seen over the past couple of sessions. At the same time, the news stream suggests that the global synchronized growth cycle strengthened late last year and is bound to carry over into the New Year. The mostly firm manufacturing PMIs are being joined by the service sector surveys. Moreover, the details are often stronger than the favorable headline optics. China's Caixin service PMI rose to 53.9 from 51.9. The Bloomberg median forecast had expected a small decline. It is the highest since August 2014. New business was ... (full story)