Dollar drops 0.7% to seven-week low - here's what millionaire traders are doing
Key Points
- The U.S. dollar has fallen to a seven-week low due to disapp...
The U.S. dollar just pulled off what economists call a "controlled descent" - dropping 0.7% against the yen to hit a seven-week low. Translation: the greenback is having about as much strength as a wet paper towel right now.
This slide comes courtesy of some rather sobering employment data suggesting the job market might be missing around 800,000 positions. That's not a typo - we're talking about nearly a million jobs that apparently went the way of your New Year's resolutions.
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