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Morning Market Recap: U.S. Dollar in Focus After Overnight Gains

The U.S. dollar is in the spotlight Friday morning following broad gains made against most major currencies overnight.The U.S. dollar has broken through a six-day range against the euro, sterling and Canadian dollar. According to currency strategists, the selloff was initiated when investors moved out of the euro and into U.S. dollars. The euro is down 0.0225 to 1.3302 against the U.S. dollar. The U.S. dollar is down 0.70 to 98.03 against the yen and the Dollar

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Euro Stuck in Range Ahead of ECB Rate Decision

The euro made modest gains on Thursday but isn't likely to make a powerful move until the European Central Bank meets next week, market watchers say.The euro gained 0.0025 to 1.2749 USD as the U.S. dollar lost ground against most major currencies.The ECB meets Mar. 5 and is expected to lower rates. Adam Fazio, currency strategist at CIBC World Markets, said he expects the euro to fall to 1.16, but that it will likely remain trapped in

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Positive Market Sentiment Hurting U.S. Dollar

The U.S. dollar has been on a significant down trend in the last five days as risk appetite continues to support equity markets and high yield currencies.Broad weakness was seen in the U.S. dollar Monday, which was down against most major currencies. The greenback was only showing gains against the Japanese yen today, and hit a session high of 98.64 JPY. A late afternoon sell-off in equities is providing some support for the U.S. dollar as it continues

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USD back regaining major funding status

FXstreet.com (Buenos Aires) - Greenback firmed against major rivals Wednesday, despite a sell-off in other U.S. assets, as dollar benefit as the major funding currency in times of fear. A very choppy American session closed with dollar stronger across the board, even against Japanese yen, that have been strong for the past two weeks. Early Asia, EUR/USD comes under fresh pressure as traders react to overnight news that Moody's affirmed its U.S. AAA rating, which could continue favoring greenback once

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The Yen Tumbles Versus the Major Currencies

The Japanese Yen weakened against all 16 major currencies after U.S. economic reports added to signs the steepest global slump since World War II may be starting to end. The JPY remained low against the EUR for a third day as signs the global recession is easing spurred demand for higher-yielding assets. The currency weakened to 134.43 per EUR and fell to 96.58 per U.S. Dollar. The Yen declined the most versus the Australian and New Zealand Dollars after the

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Strategists Say FOMC Won't Have Major Impact on U.S. Dollar

The FOMC interest rate decision on Wednesday won't have a major impact on the U.S. dollar, according to currency strategist.Most strategists agree that the Fed won't be making any major announcements Wednesday afternoon following their meeting, despite the fact that U.S. treasury prices are creeping higher.At the last FOMC meeting on March 18, the Fed announced it was expanding its balance sheet by $1.2 trillion. The announcement included the purchase of $300 billion in longer term treasury

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USD rating remains stable, new trend for greenback

FXstreet.com (Buenos Aires) - The U.S. credit ranking remains at AAA Moody?s Investor Service spokesman said Today. Fears of a probable downgrade triggered a selloff of U.S. assets starting early in the American session, with Wall Street and S&P closing to the downside, and dollar falling to record lows against major rivals. Despite that, dollar is unable to recoup ground, and at current levels, dollar is set to begin a longer term falling trend. Weekly close for majors tomorrow

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USD may resume trend in Asia

FXstreet.com (Buenos Aires) - Major currencies ended with no change Monday as holidays in U.K. and the U.S. set a very low trading volume. Some rise in risk aversion due to North Korea nuclear test, gave dollar some air after past week free fall. But was Japanese yen the most harmed by such spike, as the currency lost ground in early trading. However, dollar continues bearish across the board, and would take little to see greenback resume the downside trend.Dollar

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