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Dollar recovery hitting sentiment on forex, gold and oil
There has been a change in sentiment early this week as the embattled US dollar seems to be engaging in a near term recovery. Last week’s precipitous sell-off seems to have been a blow-out which took the market a little too far too fast and now a retracement is underway. One of the drivers has been a notable acceleration higher in bond yields. The US 10 year Treasury yield has risen above 2.70% and is now closing in quickly on 2.80% to 3.00% which are the next key levels where Treasurys may find some solace. The Atlanta Fed suggesting in its first reading of its GDPNow at +4.2% for Q1 growth has certainly helped ... (full story)
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- Tony112
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