Dollar Likely to Break to Further Lows for These Key Reasons
- 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.
US Dollar Failing at Key Support versus Japanese Yen
Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.
Retail FX Crowds Happy to Continue Buying into Dollar Weakness
Data source:FXCM Execution Desk data, Prepared by David Rodriguez
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Forex Correlations Summary
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.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.