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Great Week for US Dollar, Euro Recovery Ahead?
The US dollar wraps up another good week with gains against most of the major currencies. The only exceptions were the Swiss Franc which climbed to its strongest level in 3 months and the Canadian dollar, which held onto its recent gains. Investors brushed off softer US inflation data in favor of stronger retail sales, manufacturing activity and pickup in housing starts. However stabilization in US yields and the record breaking moves in US stocks are the primary reasons why investors are piling into US dollars. In the week ahead, there’s very little to deter the greenback’s positive outlook as there are no major ... (full story)