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US Dollar Heads for Best Week Since February as Hawks Linger

From bnnbloomberg.ca

The greenback is set for its biggest weekly gain in nearly five months as bullish traders offered respite for a currency that has been battered so far in July. A Bloomberg gauge of the dollar’s strength advanced more than 1% in the five-day stretch ending Friday as the greenback clawed its way back from the 15-month lows it touched amid last week’s selling frenzy. The Bloomberg Dollar Spot Index is now down roughly 1.4% for month. The partial recovery in the greenback comes as traders eye a packed slate of central bank meetings next week. The Federal Reserve meets on Wednesday, while the European Central Bank ... (full story)

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  • Category: Fundamental Analysis