NEW YORK ( BBH FX Strategy) -- The U.S. dollar is broadly firmer against the major currencies to start the week, but it remains well confined to ranges seen at the end of last week.The market lacks conviction after shrugging off the disappointing European flash purchasing managers' index reports last week. Even though Italian and Spanish bonds are firmer Monday, outperforming Germany, we detect a deterioration of conditions in Europe and are concerned about a flare-up in tensions after the market gets through the quarter-end portfolio adjustments.
Dollar Firm, but Market Lacks Conviction
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