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US Dollar Weekly Outlook - Short-Term Relief Rally or a Change of Heart?
The US dollar has picked up from its recent 27-month low but the move lacks conviction and may fade lower due to increased political uncertainty. The latest US Jobs Report showed the economy adding 1.7 million jobs, with wages rising and the unemployment rate falling. All numbers beat expectations but the US unemployment is still over 10%, compared to 3.5% in February this year, while nonfarm employment is lower than its February level by 12.9 million, according to the US Bureau of Labor Statistics. The second coronavirus relief bill is still being debated in Congress with both sides refusing to budge so far. Finding ... (full story)