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US Dollar Outlook: Recession Woes Take Their Toll, but USD May Prevail Anyway
The US Dollar underperformed this past week, with the DXY Index falling about 1.3% over the past 5 trading sessions. This was the worst performance since the end of January. Could this be the start of a broader reversal in the Greenback? That seems unlikely at this time, but there are a couple of reasons why the currency weakened. For starters, some profit-taking might have been a factor. Leading to the US Dollar’s decline, the currency was on a 6-week winning streak. That was the most since November. But, this probably won’t be a major contributor to a broader turning point in the currency. What is more worrying ... (full story)
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