USD Along for the Ride

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  • Post category:Currencies

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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