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Becalmed FX Market doesn't Conceal the Greenback's Strength
The foreign exchange market is becalmed today, with most of the major pairs trading in narrow ranges. The economic calendar is light and the North American session features benchmark revisions in US CPI and Canada's January employment figures. The US quarterly refunding supply has been absorbed without much fanfare. The dollar-bloc currencies and the Norwegian krone are firmer today. A bank forecast that the central bank will hike rates later this month is lifting the New Zealand dollar to new highs for the week near $0.6150. Emerging market currencies are narrowly mixed today. Most of the freely accessible emerging ... (full story)