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Graphic Rewind: US Dollar Rises as Nikkei Reaches New 6-Year Highs

Graphic Rewind: US Dollar Rises as Nikkei Reaches New 6-Year Highs

Benjamin Spier, Technical Strategist

Talking Points:

  • US Dollar rebounds as the Nikkei index reaches a 6-year high
  • Volatility down ahead of the holiday break

A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:

US Dollar 15-Minute 12:00 12/23 to 10:00 12/24 EST

Graphic_Rewind_US_Dollar_Rises_as_Nikkei_Reaches_New_6-Year_Highs_body_Picture_1.png, Graphic Rewind: US Dollar Rises as Nikkei Reaches New 6-Year Highs

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The Dow Jones FXCM Dollar Index rebounded from yesterday’s four day low in today’s trading, despite the upcoming holidays applying the brakes to Forex volatility.

The biggest gains in the greenback index corresponded to the rise in USD/JPY during the Tokyo session. The Yen declined as the Nikkei equities index hit a new 6-year high. USD/JPY trading has reflected Nikkei gains recently, and Japanese news will continue to be released over the Christmas break.

The dollar index continued to trade slightly below 10,700 through the rest of the overnight and European sessions. A better than expected US durable goods orders release gave the greenback a slight boost, and the index slowly re-tested the daily high before the markets closed for the Christmas break.

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Charts created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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