Dollar Retreats From Haven Gains After Weak Manufacturing Data

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The US dollar retreated from its gains as a result of weak manufacturing data, causing the Bloomberg Dollar Spot Index to fall by 0.1%. The index had earlier surged due to US action against Venezuela, affecting currencies linked to oil and commodity markets. The Mexican peso initially fell but recovered in later trading.

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Market impact analysis based on bearish sentiment with 80% confidence.

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Bearish
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80%
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The Bloomberg Dollar Spot Index fell about 0.1% as of 12:30 p.m. in New York. Earlier, the measure advanced to its strongest mark since Dec. 22 following the US action against Venezuela, prompting investors to consider the fallout to currencies linked to global oil and commodity markets. The Mexican peso fell in the immediate aftermath but recovered in later trading.

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