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Rate-Hike Speculation and Retail Sales Prime Dollar for Near-Term Rally
Posted on June 12, 2008
The near to medium-term outlook of the US dollar in the currency markets is one of relative strength, particularly against the Euro, Swiss franc, British pound and Japanese yen. Ever since Bernanke indicated he has his eyes fixated on the weakening dollar last week, together with US Treasury Secretary Paulson and president Bush reiterating this week their commitment to a stronger dollar, the change in dollar sentiment has been quite dramatic, although it went a little shaky after ECB s Trichet said a small rate increase is possible in July. US retail sales report released today is USD-suppor...
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