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DXY: hopes for peace in Middle East put pressure on US dollar
Achieving peace in the Middle East,
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Achieving peace in the Middle East, or some stable variant of it, is putting pressure on the US dollar, which was previously supported by demand as a safe-haven currency. Against this backdrop, analysts warn of a temporary decline in the US dollar in the Forex market. Still, it is unlikely to be systemic once speculators have priced in this development. From a technical standpoint, the US dollar index is trading above a strong support level at 98.90. Only a break below
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Pati Gani,
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