The mind thinks, the heart knows...
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Near-Term Dollar Conviction Went MIA
The US dollar fell against most of the major and emerging market currencies in the past week. The price action has been choppy, and many participants lack near-term conviction. Month, quarter, and for many, fiscal-year end considerations also inject additional uncertainty. Next week can be more of the same. The week will be cut short by holidays that shut most European market in the second half of the week, and the North American market is unlikely to have full participation when the March employment data are reported on Good Friday, April 3. One of the key triggers of the dollar's downside correction, which has ... (full story)
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