Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
Economic data was helpful to the dollar bull on the day as further suggestions of a May 10th rate hike were presented through a higher revised gross domestic product figure and lower initial jobless claims.
After the temporary boost provided the dollar after yesterday's move to tighter 4.75 percent overnight lending rates, the currency lost most of its volatility as traders awaited economic data that would back Fed comments either way.
The US dollar soared against the major currencies, for the fourth straight day and is coming close to erasing all of the losses that it has incurred over the past two weeks.
Today, the World Trade Organization warned the US against shooting themselves in the foot by exercising too much protectionism. The report was written before the UAE Ports deal and likely relates to the failed bid by China to purchase Unocal last July.
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