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USD Weekly Chart Shows Downtrend In Tact; Outlook Remains Bearish
The dollar index slid once again on Thursday and posted fresh yearly lows at 74.60 as its continues to edge closer to 2009 lows at 74.15. While the buck enjoyed a period of strength early in the US session as investors finally gave some credence to the weakness in the EMU periphery this was short lived and as usual any greenback strength was viewed as a fresh selling opportunity. It is become quite astonishing the extent to which the market is ignoring the EMU periphery and its ever rising costs to finance debt. It seems that the market is content to let these nations seek bailouts from the IMF and EU and is ... (full story)