Quarter End Flows Drives US Dollar Higher |
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It is the end of the third quarter and demand for US dollars has been exceptionally strong. This is related to repatriation flows and profit taking following yesterday’s big moves. On the bailout front, since Congress is on recess for the Jewish holidays, there have been no significant developments. As a result, to credit today’s rally on the hope for a new bailout plan may be a bit of a stretch since the Senators haven’t even sat down to discuss potential changes. Therefore we still believe
Filed under: Technical
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