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How Long Will the Dollar's Collapse and S&P 500's Extreme Rally Last?

How Long Will the Dollar's Collapse and S&P 500's Extreme Rally Last?

John Kicklighter, Chief Strategist

The positive correlation between the market's preferred safe haven currency (the US dollar) and benchmark risk measure (S&P 500) was set right by the FOMC minutes. Yet, is this risk appetite drive a lasting, virtuous trend? Given the US equity index has extended an incredible six consecutive trading day rally to a record high close and the greenback suffered its worst two-day decline in 20-months, traders should be cautious. Not only have the markets experienced exaggerated moves, but the fundamental picture does little to support their continuation. We discuss the recent swell of volatility and whether the trends that have resulted from the heightened activity will survive in today's video.

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