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The US dollar is rising against all the major currencies today. The Australian dollar is retracing a sufficient part of its recent gains to suggest that the current phase of the US dollar’s recovery is not over. Given that the Aussie topped out a week before the other major currencies, it is reasonable that it begins recovering first. Its recent resilience was noted, but that has evaporated today, but a 0.8% drop by early European activity. We had noted the divergence between what...
Read More »FX Daily, May 18: Greenback Recovers as Rate Support is Enhanced
