Excerpt from our Wall Street Breakfast, a one-page summary of this morning's key market-moving and stock-moving stories:
Dollar Appears Likely to Extend Fall Against Euro [Wall Street Journal]
Summary: Despite strong gains against the dollar last week, the consensus on Wall Street is that the dollar will continue its losses against other major currencies this week and beyond. One reason for this is Wall Street's continued focus on strong European economic performance versus weak economic reporting coming out of the U.S. And with the ECB and Bank of England set to announce rate hikes this week, further pressure to the dollar continues to seem likely.
Related links: Commentary: International ETFs Gain From the Dollar's Loss • Dollar Decline? What Dollar Decline?! It's Arbitrage • Falling Dollar: Who Stands To Gain?.
Potentially impacted stocks and ETFs: Euro Currency Trust ETF (NYSEARCA:FXE), PowerShares DB G10 Currency Harvest Fund (NYSEARCA:DBV), CurrencyShares British Pound Sterling Trust (NYSEARCA:FXB).
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