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Mid-Week Technical Outlook: Dollar Dominates FX Space

From forextime.com

The mighty dollar hit fresh multi-decade highs this morning as more hawkish Fed speakers and rising Treasury yields injected bulls with fresh inspiration. Major currencies have been crushed by the dollar’s meteoric rise this month with the British Pound and New Zealand dollar shedding over 8%. Given how the dollar continues to draw strength from aggressive rate hike bets, geopolitical tensions, and positive US economic data – more upside could be on the cards. With more Fed officials scheduled to speak this week, this may translate to more volatility on the dollar. Where there is volatility, there are potential ... (full story)

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  • Category: Technical Analysis