The dollar made a mild recovery versus the European and the antipodean currencies on Tuesday |
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The dollar made a mild recovery versus the European and the antipodean currencies on Tuesday, along with a pullback in oil and gold, but this was only profit taking following an exceptionally volatile day on Monday. However, the bottom line is that the Treasury’s plan to remove banks’ toxic mortgage assets doesn’t look good and this increases the risk of a dollar decline going into the weekend. Keep an eye on Germany’s IFO reports, and to a lesser extent to the US existing homes sales.
Filed under: Technical
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