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The Dollar Is Nosediving

Courtesy of ZeroHedge. View original post here.

Tough to say what the catalyst was for this kneejerk lower aside from severe weakness in Philly Fed (which is admittedly a 2nd tier economic data series at best), but the dollar is tumbling…

Obviously, early strength in cable from a hawkish BoE helped but that was a few hours ago…

However, while the move is notable, in the context of last week's squeeze by The ECB, it's not much yet…


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