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Societe Generale: Limited Downside for USD, Signs of Reversal in Recovery Trend
Summary: According to sources, Societe Generale reported that the recent decline in the USD against a basket of currencies is expected to be limited. After reaching a nine-month high, the long USD positions seem to be overextended. The forex market is showing signs of a reversal in the USD recovery trend, although the rebound in the ...
According to sources, Societe Generale reported that the recent decline in the USD against a basket of currencies is expected to be limited. After reaching a nine-month high, the long USD positions seem to be overextended. The forex market is showing signs of a reversal in the USD recovery trend, although the rebound in the EUR or GBP against the USD may not be sustainable. The USD typically benefits from rising energy prices and investors seeking safe-haven assets.
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Link: Societe Generale: Limited Downside for USD, Signs of Reversal in Recovery Trend [Copy]
