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Euro May Top the List of Major Trend Reversals in 2018
The US Dollar reversed the so-called “Trump trade” narrative prevailing in the months following the 2016 presidential election, falling against all of its major counterparts. The greenback had been buoyed by hopes that the eccentric billionaire’s unlikely triumph would bring inflationary fiscal stimulus and push the Fed into a steeper rate hike cycle. It fell as he struggled to turn campaign promises into legislation. The Euro led the way higher as a series of worrying elections passed without handing the reins of power to destabilizing eurosceptics. The status quo held out in the Netherlands, France elected an ... (full story)
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