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Why is the US Dollar Surging, and How Might we Trade It?

Why is the US Dollar Surging, and How Might we Trade It?

2014-08-05 15:30:00
David Rodriguez, Head of Product
Share:

- US Dollar hits fresh multi-year highs versus Euro

- Breakdown in traditional correlations forces us to rethink Dollar drivers

- Focus remains on key technical levels as professionals very USD-bullish

The US Dollar has surged to fresh multi-year highs versus the Euro, but what’s driving it and how might we trade its next moves?

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

US Dollar Surges, Sending DJ FXCM Dollar Index to best 20-day Rally of 2014

Why is the US Dollar Surging, and How Might we Trade It?

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

DJ FXCM Dollar Index Correlation to Yields has All but Collapsed

Why is the US Dollar Surging, and How Might we Trade It?

Data source: Bloomberg, Prepared by David Rodriguez

Traders Positioned for further US Dollar Strength

Why is the US Dollar Surging, and How Might we Trade It?

Source: CFTC Commitment of Traders data, Prepared by David Rodriguez.

Euro Nears Major Level of Contention at $1.3300, Remains Critical Line in the Sand

Why is the US Dollar Surging, and How Might we Trade It?

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

Follow any updates on the British Pound, US Dollar, 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.

Why is the US Dollar Surging, and How Might we Trade It?

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

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

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