Scotia Capital: Focus moves back to the dollar
Camilla Sutton, chief currency strategist at Scotia Capital in Toronto, said that, at the time of forecasting, much of the bad news had already been priced into the euro. The International Monetary Fund and European Central Bank had also announced a €750 billion stabilisation package to support struggling European member states.
Similarly, market sentiment, as illustrated by the weekly US Commodity Futures Trading Commission speculative positioning data, looked set to change. For example, on
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