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27 May 2015
Greenback rallies and keeps going - Scotiabank
FXStreet (Guatemala) - Eric Theoret, CFA, CMT Currency Strategist at Scotiabank noted that the USD has rallied broadly since its recent low on May 15th.
Key Quotes:
"Its near 5% rise driven by a reversal of the recent trend of disappointing data (top chart), with a notable improvement in housing starts/permits, leading indicators, CPI, and Tuesday’s durable goods."
"Overall, the data have provided for a stabilization in the U.S. growth outlook, with the Atlanta Fed’s GDP now showing a modest improvement in the model forecast for Q2."
"This stabilization is important to the Fed, reducing fears of downside risk as it seeks to determine the path for policy normalization."