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Consolidating USD's Recent Losses
The US dollar is firm against most of the major currencies, consolidating the losses from the end of last week and extending its gains against the yen to almost JPY102. The weekend nuclear deal with Iran has seen a spurred a sharp drop in oil prices and may be helping buoy stocks. A sustained fall can boost household purchasing power or profits some producers/refiners, depending on the gains are distributed. It can only add to the disinflationary environment. Rhetoric from the ECB has continued into this week from last. Now it is Hansson's turn to play up the ECB options, including being technically ready to cut the ... (full story)
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