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Dollar Gains Against All Others in Fed-Packed Week

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The USD gained against most others Friday with US equities recovering some of (but far from all) the losses posted on the week. US durable goods orders were a miss, with most metrics below forecast for August, but the data did little to shake out markets which generally drifted into the Friday close.

NOK comfortably underperformed, hitting a four-month low vs. the EUR. The moves followed Thursday's Norges Bank rate decision on Thursday, will stopped short of some hawkish expectations and as the central bank were forced to up their F-loan programme in order to see off liquidity issues that were arising from uneven distribution of NOK among the Norwegian banking sector. Lower oil prices didn't help, with Brent falling just over 0.5%.

Focus in the coming week turns to the next round of EU/UK Brexit negotiations, month-end FX flows, China's September PMIs, MNI Chicago Business Barometer and ISM surveys, Japan's Tankan data and the latest nonfarm payrolls release.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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