Talking Points
- EUR/USD dips sub-1.0500 before swiftly rebounding above 1.0600.
- Commodity currencies (AUD, CAD, NZD) leading the way.
See the March forex seasonality report for trends in the QE-era.
The US DOLLAR Index has retraced all of its gains over the past 24-hours in a quick manner, after briefly setting fresh yearly highs against the Euro around the start of the Asian session overnight. The scope of the reversal is seeing the greenback post losses across the board, breaching short-term trend support levels in the process.
--- Written by Christopher Vecchio, Currency Strategist