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Dollar Likely to Break to Further Lows for These Key Reasons

By , Quantitative Strategist
06 May 2014 14:15 GMT

- US Dollar failing at key support versus Japanese Yen, Euro at crossroads

- Strong forex correlations to US Treasury Yields help explain Dollar slide

- Until Retail FX sentiment shifts, Dollar’s slow grind lower likely to continue

Charts are viewable below.

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

US Dollar Failing at Key Support versus Japanese Yen

Dollar Likely to Break to Further Lows for These Key Reasons

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

Retail FX Crowds Happy to Continue Buying into Dollar Weakness

Dollar Likely to Break to Further Lows for These Key Reasons

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

Follow any updates on the Dollar, Yen, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

Dollar Likely to Break to Further Lows for These Key Reasons

Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.

Contact and follow David via Twitter: https://twitter.com/DRodriguezFX

06 May 2014 14:15 GMT