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Near-Term US Dollar Technicals Mixed, but...
The dollar rose against all the major currencies last week, except for the British pound and New Zealand dollar, which eked out minor gains. We have been suggesting two views. The first was a near-term pullback in the dollar, a correction to the November-December slide. The second was for the underlying downtrend to resume. The combination of the emerging divergence between the US other high-income countries and our technical analysis warns this corrective phase for the dollar could last longer than we initially thought, and perhaps, run a bit higher. As we note below, the dollar's momentum studies look more robust ... (full story)