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The dollar may continue to fall

Bloomberg Dollar Index chart. Source: Bloomberg

The Bloomberg US Dollar Index continued its decline for the seventh trading day in a row. It has broken through key support levels that indicate the path for further declines. This month’s course dollar fell more than 2% amid declining US government bond yields and a pause in global reflation expectations. If this downturn is not stopped, the dollar’s uptrend, which has developed contrary to consensus this year, could fade away.

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