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With the ECB shifting to an über-dovish stance, and the possibility of the Fed hiking rates sooner than expected, the US dollar has suddenly become the most favored currency on the planet:
In fact, the last time the USD was as overbought as it is now was June 2010 when fears of a Greek exit from the euro triggering a eurozone meltdown were palpable (58% of the US Dollar Index is comprised of the euro currency). While a dollar pullback is to be expected over the near term after the recent parabolic move, an eventual move back up to the 2008/2010 highs is in the cards before year end.
Any further upside in the USD is likely to remain a headwind for precious metals and mining shares while favoring European exporters who will benefit from a weaker euro.
Last week, the US dollar fluctuated as inflation data came in above expectations, sparking volatility. Amid talks of potential shifts in Federal Reserve policy, investors are...
Bearish: We are currently @ 1.2735 in a channel in a range. We are continuing a third wave and looking to continue the channel to the ATR target @ 1.2680 with a further S4...
The Japanese yen is showing limited movement to start off the week. In the European session, USD/JPY is trading is almost unchanged at 149.07.Will the BoJ Raise Rates on...
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