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What is Driving the Dollar Higher?

What is Driving the Dollar Higher?

5 Years ago | May 27, 2015 00:00:00

The dollar has staged sharp rebound since the EURUSD peaked on May 15 at 1.1467 with strong gains across-the-board. There was no obvious catalyst although the seemingly never ending debt/reforms negotiations with Greece appeared to have been a weight on the EUR. However, assuming a muddle through, face saving last minute agreement to stave off a default is still the consensus view, the Greek situation may be more of an excuse to explain the price action. This is not to downplay the risk of a default and a Grexit but to point out what would be the surprise. The EURUSD underperformance since May 15 may reflect the fact it had the most to give back after dollar selling ran out

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