Dollar bulls remain in control despite thin trading conditions and the lack of U.S. economic data. The greenback extended its gains against every major currency with the Australian dollar and Japanese Yen losing the most ground. The rally in U.S. equities has evoked speculation about whether the Santa Claus rally has come early this year. According to the Stock Traders Almanac, “it is pretty much clockwork” for stocks to post gains at the end of the year. Stocks ended higher 12 out of the last 15 end of the year periods as holiday cheer translated into holiday gains. This morning, the Nasdaq hit a fresh year to date high intraday fueling speculation that equities in general may end the year at new highs
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