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The U.S. Dollar Could Get Stronger And Then Weaker

On March 29, I remarked that in light of the Federal Reserve's announcements regarding monetary policy at "The New Normal Monetary Policy" research conference, Monday's movements in the US Dollar will give a good indication as to how the currency can be expected to trade for the month of April. Much of the USD strength going forward highly depends on how quick the market expects the Federal Reserve to act in raising interest rates. For instance, I had stated that should interest rate hikes be delayed to September rather than June of this year, we may see some USD weakness before an eventual rebound. However, we see that against major currencies, the USD is trading higher at the open of trading: Read more