FOREX: Dollar – Expect Little from NFPs, Keep a Wary Eye on the S&P 500 and Talk of the QE2 Expiration

The dollar suffered its worst weekly performance in a month. What initially looked like a promising open to the period, quickly turned into a dramatic decline for the struggling greenback as the few fundamental compliments for the currency have failed to gain traction. Despite the potential indirect benefit the dollar could garner from uncertainty surrounding Europe’s financial difficulties or speculation ahead of the Fed’s cap on the second, $600 billion quantitative easing (QE2) program next month; the FX crowd once again deferred to risk appetite and the sparse return to be found from the benchmark currency.

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