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American GDP Could Drive Dollar Volatility
The USD was punished after the first preliminary release of GDP data across the board. Interest rate divergence has been the main driver of USD strength, but with the evidence of a weaker U.S. economy accumulating the market revalued the currency. The Federal Reserve has managed to restore some level of confidence in an interest rate hike coming later this year. The minutes from the Federal Open Market Committee (FOMC) and later Fed Chair Janet Yellen’s comments continue to show an upbeat tone. Their analysis of the first quarter slowdown was attributed to transitory factors. The USD has regained some of the losses ... (full story)
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