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U.S. Dollar Index Futures (DX) Inching Through 4-Month High
Monday’s price action and the current price at 98.725 likely means the direction of the index on Tuesday will be determined by trader reaction to yesterday’s high at 98.770. The upside momentum is strong so we’d like to see the trend confirmed by a new higher-high. The U.S. Dollar futures contract surged against a basket of major currencies on Monday, inching over its October 1, 2019 top at 98.735 in the process. In the cash market, the index moved closer to its October 1 top at 98.890. Most of its gains were attributed to a weaker Euro, which fell 0.30%. Competition with the Japanese Yen over coronavirus ... (full story)