Dollar rebound on view that Fed would hike rate later this year
The Dollar rebounded from a 2-1/2 week low versus the Euro on Monday after a key forecasting gauge unexpectedly rose in April, suggesting that a sharp economic downturn in the US might be nearing a bottom. That eased fears about consumer confidence and reassured investors that the Federal Reserve would have room to hike interest rates later this year. FX Traders also attributed the Dollar’s rebound to position squaring after last Friday’s sharp sell-off, sparked by a report showing a sharp drop
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