Top Currency Trader Says Too Soon to Buy Dollars Despite Data

Top Currency Trader Says Too Soon to Buy Dollars Despite Data

4 April 2016, 16:21
Francis Dogbe
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Citigroup Inc., the world’s biggest currency trader, says it’s “too soon” to buy the U.S. dollar after it slumped to a nine-month low and economic data came in stronger than forecast. A gauge of the dollar was little changed Monday after dropping 1.6 percent last week even after Labor Department data showed U.S. employers added more workers than projected in March and wages strengthened. Federal Reserve Chair Janet Yellen and fellow policy makers are changing how they decide on rates, putting more weight on global financial conditions, even as U.S. data improve, said Todd Elmer, a Singapore-based foreign-exchange strategist at ... READ MORE
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