Currency Positioning and Technical Outlook

From marctomarket.com

Last week was of two halves. In the first part, the dollar remained strong as the European crisis dominated other considerations. In the second part, the dollar had its recent gains pared as the seemingly bipolar market shifted its focus to the increased risk of a policy response. In addition, evidence continued to mount that the world's largest economy is off to a sluggish start of Q3. Next week is jammed with key events, back loaded, if you will. The keys will be the FOMC meeting that concludes on Wednesday and the ECB meeting on Thursday. In addition, the US reports the market sensitive ... (full story)