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Dollar Losses Accelerate, Adjustment not Over

The US dollar had one of its worst weeks of the year, as its interest rate support eroded. Despite prospects for a further upward revision in Q2 US GDP above 3.0% and continued above trend...

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Thoughts on the Price Action

The market has not changed its mind. Following Brainard’s comments yesterday the market had downgraded the chances, which were already modest, of a Fed hike next week. The September Fed funds futures is unchanged on...