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U.S. Dollar May Rally


The dollar is set to rally as leading indicators show the U.S. economy will grow faster than forecast, Bank of Tokyo Mitsubishi UFJ Ltd. said.

The ECRI leading indicator “points towards the strongest U.S. economic recovery since the early 80s,” Lee Hardman, a currency economist at Bank of Tokyo, wrote in a research report today. “At present expectations are that the current recovery will likely be below average, highlighting the upside surprise potential.”

The ECRI Weekly Leading Indicator Growth Rate rose to 13.4 percent on Aug. 7, according to the Economic Cycle Research Institute.

The dollar strengthened 0.6 percent to $1.4115 per euro as of 9:48 a.m. in London.
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