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May 24, 2016
The Greenback is mostly stronger this morning, rallying against all but one of its G10 peers amid increased speculation that the Fed will raise rates as soon as this summer. A series of hawkish statements by Fed speakers including Williams and Harker prompted traders to re-price the odds of summer 2016 fed fund futures currently implying a 54% probability of a 25bps hike as early as July. The Greenback gained 0.40% against both the Euro and Japanese Yen overnight, the former of which broke through 1.1180 support even amid news IMF staff support the implementation of a Greek debt-relief program.

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