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Safe haven US dollar recovery shows no sign of let up as risk appetite continues to suffer
Momentum is really taking hold in this risk off, dollar rally now. In the last few days there has been a real shift in outlook, with the fears mounting over the implications of COVID second waves in countries across Europe and the US. Safe haven flows continue and the US dollar is benefitting from that. The significant dollar negative positioning that has developed over the past few months is driving traders into a short-covering dollar rally now. The comments of Fed chair Powell have hardly helped to stem the tide either. Powell noted yesterday that fiscal support for the economy is vital in the battle against the ... (full story)