From the Desk of Ian Culley @IanCulley
The US Dollar Index $DXY is chopping smack-dab in the middle of a three-week range.
Currency markets are quiet. The euro, the pound, and the yen have all dialed back the volatility.
But there’s nothing wrong with the sideways action.
And in no way does it diminish the underlying uptrend for the dollar.
In fact, the near-term trendless range makes sense in light of DXY’s recent run and the long-term support levels in play for major currencies.