The [USD INDEX] has been on a one-way street lower over recent sessions. ...
The [USD INDEX] has been on a one-way street lower over recent sessions. Firmer than forecast US data in the form of the Chicago PMI (60.2) and the Michigan sentiment (85.3) did little to prop. Month, quarter and half-year end flows were largely Usd negative in nature, while Thursday's decision by the Fed to leave interest rates at 5.25% and the accompanying statement has also been a weight. Bernanke and co droped the "elevated" tag from the description of core inflation and even suggested readings on core inflation have improved modestly in recent months. As a result, the 10-year yield is dropping back towards 5.00 and the Usd Index could well be capped in the short-term into 81.90/00. next downside targets come at 81.67/70 and 81.53/55.
The [USD INDEX] has been on a one-way street lower over recent sessions. Firmer than forecast US data in the form of the Chicago PMI (60.2) and the Michigan sentiment (85.3) did little to prop. Month, quarter and half-year end flows were largely Usd negative in nature, while Thursday's decision by the Fed to leave interest rates at 5.25% and the accompanying statement has also been a weight. Bernanke and co droped the "elevated" tag from the description of core inflation and even suggested readings on core inflation have improved modestly in recent months. As a result, the 10-year yield is dropping back towards 5.00 and the Usd Index could well be capped in the short-term into 81.90/00. next downside targets come at 81.67/70 and 81.53/55.
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