BNP Paribas shines as greenback rallies
"We believed the dollar had been in a bottoming-out process, and was about to embark on a sustained recovery," said Ian Stannard, BNP Paribas' senior foreign exchange strategist in London. "The Fed over the past month has been increasingly hawkish - switching its focus from growth and looking increasingly at inflation."
In recent weeks, the Fed has shown signs of defending a stronger dollar, with chairman Bernanke's remarks on June 3 causing the greenback to rally against the euro, sterling and
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