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US Dollar takes a back seat
Friday's soft US jobs report is now favouring a dovish taper from the Fed and has drawn some of the sting out of upside scenarios for the dollar. It is a quiet for the US data calendar, including today's Labor Day holiday, but there is plenty going on elsewhere. The key focus this week will be central bank rate meetings in many regions, including the Eurozone. Broad measures of the trade-weighted dollar are now about 1.5% off their mid-August highs. Helping the correction certainly has been Powell's Jackson Hole speech de-linking the tapering debate from the first tightening. And Friday's softer NFP jobs report ... (full story)