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US data reinvigorates USD bullish move - Societe Generale

FXStreet (Łódź) - Kit Juckes, Global Head of Currency Strategy at Societe Generale suggests that the USD bullish momentum at the start of last week was boosted by positive US data.

Key Quotes

"The CFTC data released over the weekend confirmed what we knew - the market was very long of dollars a week ago. But then, as my colleague Ted Mermel commented, there was a correction in the dollar bullish camp at the start of the week, before the barrage of US data came along to reinvigorate the move."

"And so here we go again, long dollar positions duly re-loaded and in need of a rest at the start of the week."

"Dollar dip-buyers are hoping for a better dip to buy and strategic longs are fetching croissants, finding things to read while they watch German factory orders (ouch) and Euro inflation swaps (falling)."

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