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Safe-Haven Demand Helps USD Index Back to Its Feet
The widespread flight to safety seen in Thursday’s trading has helped the USD Index back to its feet, but only just. The USD Index is barely recovering after a two-week hammering it has taken following the dump of the US Dollar on hopes of economic recovery. Those hopes are now hanging in the balance after the Fed’s economic projections painted a grim outlook for the US economy. Predictions by the Fed that more-than-doubled the GDP forecast to the downside compounded similar warnings of global economic contraction from the OECD earlier in the week. Risk-off sentiment now pervades the market, and the US Dollar is ... (full story)