From the Desk of Ian Culley @IanCulley
How funny would it be if the US Dollar Index $DXY peaked with the expectations of a 100 basis point rate hike last month?
And what would that mean for risk assets and the stock market rally?
These are just a few questions that float across my mind as I look through currency charts.
To be clear, the DXY isn't showing any signs of a top. Momentum remains in a bullish regime, and the index is holding above the upper bounds of its former range.
I’m not going out on a limb here and calling a top in the US dollar. Instead, this is all about execution and remaining receptive to all possibilities.
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