The greenback falls to fresh lows on the day
There’s still no reprieve for the dollar this week as the greenback slides to fresh session lows in the European morning. EUR/USD is up to a high of 1.2143 and looks towards the 50.0 retracement level of the swing lower to start the year @ 1.2150:
With the Fed put in play and the technicals starting to turn against the greenback, things are shaping up rather poorly for the dollar after a resilient start to the year.
Suddenly, all the dollar calls in December are starting to look good again. I mean there’s still the risk of a short squeeze in the short-term as per what we have seen but it appears that the market is also still convinced about the overall outlook for the dollar this year.
This article was originally published by Forexlive.com. Read the original article here.