US Holiday Markets

I must say, I found it a bit unusual this holiday that the world mkts
chose not to beat the living hell out of the US Dollar this Memorial Day,
seeing that it's commonplace to do so when the US banks/markets are closed.

Quite possible that the Greensback's negative performance over the past
week pushed valuations to levels close to where the selling just simply
exhausted itself for the time being.

Since there's no case to be made for a heavy Long Dollar position, atleast not yet,
it wouldn't be hard to conceive of a retest of the 160 euro level some time
over the next few days. I'm just surprised the market didn't slap the buck
this time around. I guess folks just took the weekend off and actually had
a real holiday for a change. Nice when that happens, don't ya think ?

I think the markets are being more cautious this time around. People want to see some hard proof that US economy is indeed weak and there is no chance the FED will raise interest rate, and the eurozone is indeed strong and consumer confidence is up. Until then, traders might hold and wait and see attitude.