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Dollar Becalmed as Markets Wait for US Leadership
The short squeeze that lifted the US dollar ahead of the weekend has seen limited follow-through buying, and instead of a consolidative tone emerged. Europe is searching for direction and perhaps waiting for US leadership after a quiet Asia Pacific session, with several centers closed for holiday today (China, Hong Kong, Taiwan, and Australia). Japanese and South Korean equities advanced. Europe's Dow Jones Stoxx 600 is up for the seventh consecutive session. Gains in information technology, energy, and utilities are helping to lift the benchmark to new record highs. US equity futures are posting minor gains. ... (full story)