Bullish greenback bucks the trend
"What we have seen in foreign exchange markets is the complete destruction of the long-term dollar bear trend," said Adam Fazio, currency strategist at CIBC World Markets in New York. "When you see the Australian and Canadian dollars, euro and sterling all break multi-year bear trends against the dollar at the same time and magnitude, you get a new trend in equal ferocity."
Fazio also looked at the de-leveraging and the repatriation of funds back to the US as a factor that would cause the dollar
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