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After Limited Follow-Through Selling, the US Dollar has Come Back Bid
Three of the G10 currencies rose by more than 1% against the US dollar yesterday after the softer inflation and weak retail sales readings. The Dollar Index lost almost 0.65% yesterday, the most this year. Among emerging market currencies, only the Mexican and Chilean pesos rose by at least 1%. After extending its losses against most of the major pairs, the dollar has come back bid. Only the yen and Swiss franc are firmer on the day. The dollar-bloc currencies and Scandis are off 0.20%-0.25%. The Mexican peso has also come back offered and off about 0.25% is the weakest of the emerging market complex. The strong ... (full story)