From the desk of Ian Culley @IanCulley
The US dollar has answered any and all questions about its strength over the past few months.
During Tuesday’s session, there was no place to hide, as King Dollar continued the Fourth of July celebrations, putting on its own fireworks display.
It lit up every currency on the board as major forex pairs continue to go down in flames.
Two that stood out were the EUR/USD and the GBP/USD.
Yes, these crosses have been trending lower since the beginning of the year. But with the critical levels that broke yesterday, we’re anticipating fresh downside legs and prolonged dollar dominance.
Let’s take a look.