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US Dollar Drops Most in Two Months as Yuan, Yen Rally on Pushback

From bnnbloomberg.ca

The US dollar fell by the most in two months after China and Japan signaled a willingness to take steps that would bolster their currencies, triggering a sharp jump in the yuan and the yen. The moves snapped what had been one of the longest rallies in the dollar in years as the surprisingly strong US economy fueled speculation the Federal Reserve will keep interest rates above those in other countries. Despite Monday’s retreat, analysts expect that interest-rate gap to continue putting upward pressure on the dollar and cautioned on betting against the currency. “As long as monetary policy divergences remain, the ... (full story)

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  • Category: Fundamental Analysis