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The US Dollar Dominates Global Flows
The US Dollar continues to attract the most buy-side flows in the Forex market as the thematic of 'no alternatives' to put one's capital to work in the currency space makes, by default, the world's reserve currency still the best destination to obtain a bit of a yield rolling in. The dominance is clearly reflected by the breakout of a key resistance in the prop US Dollar index (equally-weighted vs G8 FX) that we follow here at Global Prime. The fact that a slightly less hawkish Fed's Rosengren made no difference to dethrone the victorious parade of the USD speaks volume of the bullish sentiment at play. By the same ... (full story)