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Where is the Dollar Headed?
The euro has reached 1.60 to the U.S. dollar, and there’s currently no end in sight for the euro's strength. Speculators will continue to take the currency higher until the European Central Bank (ECB) starts to wince. That may not come for another several hundred pips.
The dollar looks likely to continue falling and the euro to continue rising until either the U.S. or euro zone dramatically changes its policy or intervenes. Next week, the Federal Reserve will meet to set interest rates. A cut of only 25 bp would be a sharp departure from their previously aggressive 50 and 75 bp cuts, suggesting that the Central Bank may be slowing down. Continue Reading
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