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FXstreet.com (Barcelona) - The US recovery remains adrift as it navigates against the Eurozone financial crisis heawinds and uncertainty regarding the domestic fiscal outlook.

"The weak economic backdrop has been underscored by the sup-par growth performance during the first half of the year, and with the progress toward removing the massive global uncertainties continuing to fall short, economic growth will likely remain below 2% for the remainder of the year", wrote TD Securities analysts, pointing however to encouraging signs of regaining traction as housing and manufacturing data improve, despite the widening output gap and lagging growth potential. The slow-growth trajectory should continue to argur for policy accommodation, and we expect the QE3 program to be extended well beyond the December expiration of Operation Twist", they added.
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