Our sentiment-based algorithmic trading strategy remains short the U.S. dollar against the British Pound and the euro, while positioning in the USDJPY calls for additional declines as the ratio is up from 3.47 yesterday, and unchanged from last week. Indecisiveness across the FX markets makes it difficult to a make short-term forecast with assurance. However, market participants are sure to keep an eye on further developments as they may prove important in deciding market direction for the greenback.
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