Dollar Posts Biggest Surge in 18 Months on the Way to 3 Year Highs
The dollar has exploded higher. Since overtaking the 10,600-mark – the midpoint of the past decade’s range – the Dow Jones FXCM Dollar Index (ticker = USDollar) has posted its biggest two-week rally since November 2011. Momentum of this scale is all the more impressive because the benchmark is winning fresh three-year highs with each drive forward.
Japanese Yen Bounce Almost Guaranteed, but at ¥103 or ¥110?
The Japanese Yen tumbled for the third-straight trading week (and sixth week of the past seven) against the US Dollar, breaking the psychologically significant ¥103 mark with seemingly no end in sight. But key warning signs suggest the JPY-short trade is becoming a little too obvious for comfort.
Sterling Outlook Hinges on BoE Minutes- Higher Low in the Making?
The British Pound failed to maintain the upward trend from earlier this year, with the GBPUSD slipping to a fresh monthly low of 1.5156, but the sterling may regain its footing in the week ahead should the Bank of England (BoE) Minutes further dampen speculation for more quantitative easing.
Gold Plummets 6% Ahead of FOMC Minutes– Bearish Below $1405
Expectations that the Federal Reserve will start to taper its asset purchases have continued to weigh on gold prices as a growing number of central bank officials adopt a more neutral tone on monetary policy.
Trading Currencies Against the Crowd – Real Forex Strategies
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.Learn forex trading with a free practice account and trading charts from FXCM.
Source: Daily fx