USD Along for the Ride

Unlike 2008’s hysteria, the US dollar is part of the downside, not the obvious liquidity destination (at least as implied by its price action).  That role in the short-term at least, is being played the Euro and Yen, presumably on global speculators’ short covering.

Weekly Uncle Buck has hit what we have been noting as key support today.  A loss of that level would target below 88.

US dollar weekly

Chiming in on this is the longer-term monthly, which shows strong support, should that happen.  But it also shows additional long-term support at current levels.  So I would not be surprised to see Uncle Buck bounce from this level either.

US Dollar, monthly

Just some perspective for you on a currency that is usually front and center during these negative market hysterias, but is not at this point.

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