From the Desk of Ian Culley @IanCulley
A weaker dollar remains a key ingredient for a risk-on rally. Yet, like interest rates, the buck refuses to roll over.
The US Dollar Index $DXY continues to hover well below last year’s peak, holding within a tight range for the past four months.
Today, we’ll review critical levels for DXY as this trendless action defines the chart.
We’ll also look beneath the surface for signs of broad strength or weakness and revisit a binding intermarket relationship for clues regarding the dollar’s next major move.