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Dollar Rallies BoE, ECB Surprise


After leaders at both the Bank of England and the European Central Bank surprised markets with monetary policy stances that were more dovish than previously, the U.S. Dollar broadly rallied during the Asian session. It appears that the Federal Reserve is now the only one of the world’s key central bank with any intent to take a more hawkish stance. Analysts believe that if today’s release of labor data supports an imminent Fed move, it could increase the upside momentum for the greenback though even a downside surprise is likely to have little enduring effect on the Dollar’s relative strength.
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