Be humble or be humbled.
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A Closer Look at the Price Action
The most promising news of a vaccine to ward off Covid-19 became a new force shaping the investment climate. The dollar did well after suffering broadly in the prior week. The notable exception was the New Zealand dollar, which was bolstered by the unwinding of expectations that the central bank would adopt a negative target rate. Sterling's gains ahead of the weekend were sufficient to settle positive, albeit barely, on the week. The US dollar fell to a new low for the year against the Canadian dollar (~CAD1.2930) at the start of the week but recovered to and recouped about half of what it slows since late October. ... (full story)