DXY fully retraced 3Q’s decline – DBS
The Dollar Index (DXY) powered higher for a third session to 106, fully retracing its third-quarter decline, DBS’ Senior FX Strategist Philip Wee notes.
Strong USD getting expensive
“Several exchange rates in the DXY basket are near critical levels. EUR/USD bounced off April’s low of 1.06 overnight. GBP/USD fell below 1.28 to 1.2748, near August’s low of 1.2665.”
“The weaker European currencies pushed USD/CHF above 0.88 this week for the first time since late July. USD/JPY is near the psychological 155 level. USD/CAD’s rise stalled at a new year’s high of around 1.3970 this month.”
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.