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Narrowly Mixed US Dollar to Start the Big Week for Europe and North America
The dollar is narrowly mixed against the G10 currencies to begin the week that features a Bank of Canada and ECB meetings, US jobs data, Federal Reserve Chair Powell's two-day testimony before Congress, and US President Biden's State of the Union address. Most emerging market currencies are firmer. The Turkish lira is a notable exception. Higher than expected took a toll, knocking it down by around 0.5%. On the other hand, the Malaysian ringgit is up almost as much as the government appears to be persuading state-owned companies to repatriate foreign earnings. The Nikkei settled about 40k for a new record, while the ... (full story)