Deutsche Bank - "The multi-year USD bottoming story will only gain real impetus and broaden to encompass all the majors if 1) downside growth risks associated with absorbing the payroll tax and potentially another 0.5% fiscal drag from sequester cuts, materialize; or, 2) Fed policy tightening is pulled forward by an unemployment rate continuing a sharper decline than GDP numbers would typically suggest. For now however, the economy is still travelling between these two opposing views of the world, leaving the USD’s natural anti-pole, the EUR as the best major alternative."
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