Weak U.S. data ends the dollar’s safe-haven rally

Weak U.S. data ends the dollar’s safe-haven rally

January 31, 2020

“The only reason that GDP perhaps looked relatively healthy was because of something that’s actually quite poisonous for the U.S. economy: a slump in domestic demand and a sharp but unsustainable rise in exports. That’s not something that is attractive to the forward-looking participants that make up the foreign exchange market,” said Karl Schamotta, chief market strategist at Cambridge Global Payments.

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