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US Dollar – Why some traders see a big reversal
Over the past 24 hours many of our clients have asked if the U.S. dollar has peaked and now prime for a major reversal. This question is largely sparked by the 2-day decline in the Dollar Index and the fact that it is aiming for 98.00. While USD/JPY remains strong, the greenback is beginning to lose momentum versus the euro, British pound, Swiss Franc and commodity currencies. What’s interesting about the move is that U.S. data was good allowing Treasury yields to resume their rise. The country’s trade balance narrowed significantly in the month of September from -$59B to -$56B, its best level since March 2016. ... (full story)