The USD continues to squeeze higher but USD Index gains must be seen as corrective, temporary, and ultimately limited to 80.75/80.80, before the larger bear trend resumes for 78.72, says Bank of America Merrill Lynch. "For those looking to buy USD, DON’T BUY USD/CAD. The pair remains in a large, multi-month contracting range between 1.0503 and 1.0255. It is now in the process of turning down toward its range lows. A close below 1.0421 confirms a near-term top and turn lower in range," BofA advises. Meanwhile, BofA remains bullish on Gold. "The impulsive gains from the 1251 low of Oct-15 and break of the 2m ... (full story)