Another day, another drop for the dollar index…
The Bloomberg Dollar Index is down for 6 days straight…
To its lowest level since Dec 2014…
The dollar weakness has sent EURUSD to its highest since Dec 2014…
And cable strongest since Brexit…
Bloomberg’s Cameron Crise asks, when will the dollar bounce?
Even trending markets sustain corrections, and it’s starting to feel like dollar weakness is getting a bit tabloid. While the Bloomberg dollar index is trying hard to rebound at the time of writing, that could change in the blink of an eye. Next week’s ECB meeting is an obvious catalyst for a proper reversal if Draghi pushes back on euro strength and the market responds to him. Neither of these is certain, however.
For now, gold is winning…
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