Barren greenback boosts Merrill
"We expected a decline in the dollar and a rise in risk aversion to occur throughout July, due to rising credit market concerns, which were predominantly occurring in the US, as well as rising subprime debt," she said.
The global environment continues to be inherently dollar-negative, added Lawson. "This is because the rest of the world continues to exhibit robust growth," she said. "In addition, portfolio inflows that supported the dollar in the past were dominated by corporate credit-type
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