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Flash: The Dollars on a roll and it’s just the beginning - Societe Generale

FXstreet.com (Barcelona) - Societe Generale strategist Vincent Chaigneau notes that USD is on a roll, and he believes that it is only the beginning.

Following a small correction in late April, he notes that the dollar is rallying with a vengeance and a pause may be due, but recent moves confirm the shape of things to come, namely dollar gains will be far bigger in H2, as the Fed exit debate heats up. Overall, he notes that the dollar in late April saw its biggest year-to-date correction. He writes, “Indeed, the US dollar has staged a sharp rebound this month, beating all G10 and major EM currencies. (Further), The trade-weighted dollar has surged.”

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The USD rally is taking a breather, giving some oxygen to the riskier assets and allowing the shared currency to print intraday highs around 1.2890 during the European afternoon...
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