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Eying a dead cat bounce on EUR/USD and GBP/USD
There is a sense of a slight hangover for the dollar on Monday morning after the Non-farm Payrolls report induced such a strong run on Friday. It is interesting to see the euro, Cable and gold all bouncing slightly early today. There is often a view that there can be a “dead cat bounce” after such a strong move and this could just be that. Markets need to slightly re-calibrate and it might be a case of that today. The dollar is certainly moving with economic data (strong payrolls was strong for the dollar), whilst this strong dollar has also been negative for precious metals and other commodities. Furthermore, ... (full story)
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