From the Desk of Ian Culley @IanCulley
The US dollar Index $DXY is trading at fresh highs. Take a look around the currency market. It shows.
Recent attempts to fade dollar strength have failed. The euro has fallen to its lowest level since late 2002. And we’re beginning to see forex pairs experience fresh breakouts in favor of the USD.
It’s certainly not the best look for risk assets. But it’s offering us great trading opportunities, not to mention some very valuable information.
A couple of pairs that are providing both are the USD/CNH and the USD/CNY. Let’s take a look!
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