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USDOLLAR Breakout Eyes Topside Targets- Time to Buy Dips
The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) climbed to a fresh monthly high of 10,799 as the preliminary 2Q GDP report highlighted a stronger recovery in the U.S. economy, and the bullish sentiment surrounding the reserve currency should gather pace ahead of the next Fed policy meeting on September 17-18 as the outlook for growth and inflation improves. The near-term outlook for the greenback remains very constructive as the index continues to carve a series of higher highs paired with higher lows, but the dollar may face a small correction going into the final trading day of August as the 30-minute ... (full story)
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