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March Dollar Madness on Dudley?
Last week, the dollar succumbed to profit taking from Fed Evans dovish overtones on Friday. This weeks direction will be set early by New York Fed Dudley’s speech later this morning. The market will be focusing on whether he will be able to talk down the recent rise in treasury yields (nine consecutive days-10’s at 2.29% +30bps) and whether he “reignites expectations that another round of quantitative easing could be unleashed in the US.” Recent strong data in the region has allowed the market to pare back some of their strong views on QE3, believing that the US is naturally gaining traction. However, any ... (full story)
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