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Dollar weakness resuming ahead of Powell testimonies
The recovery seen on the US dollar in recent sessions seems to once more be ebbing away as traders have come back to their desks to sell the Greenback on Monday morning. Treasury yields may not have not been such a primary factor in driving the dollar moves in recent weeks, but with rates falling early today the traction is beginning to build for renewed dollar selling pressure again today. This dollar weakness comes ahead of key US inflation numbers and new Fed chair Jerome Powell testifies before Congress for the first time this week. It has always looked that near term dollar rallies would be seen as a chance to ... (full story)
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