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Quotes from Western Union:
- The trade-weighted dollar soared to new four-year highs, powered by opposing courses of central bank action this week in Washington and Tokyo. The long talked about policy divergence between a leaning tighter America and easier banks abroad materialized in earnest after Japan's central bank redoubled its efforts to boost an economy whose weakness was compounded by a spring tax increase.
- The buck also benefited from more signs of fundamental strength in the U.S. economy as growth proved stronger than forecast last quarter (3.5 percent) and jobless claims hovered near decade-plus lows, levels consistent with robust monthly hiring.
- The next test of greenback bullishness arrives with a Nov. 7 report on nonfarm payrolls, forecast to rise 233,000 for October from nearly 250,000 in September.