Dollar falls to lowest on year

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The U.S. Dollar fell to its lowest against the Swiss Franc and Euro, while the Canadian dollar and the Scandinavian currencies are also near year highs as well.  If you read Bloomberg, you might think this has to do with a bullish equity market call as the dollar’s status as a safe haven is less needed.

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But, the facts don’t add up.

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The downward move in the U.S. dollar has everything to do with a fundamental weakening of appetite for U.S. dollars and much less to do with safe haven status.

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