US Dollar Rallies to Three-Month Highs, Finds Resistance at 2017 Low

April 24, 2018

Talking Points:


- The US Dollar has continued to gain, continuing last week’s move of strength to tally a 2% move off of last Tuesday’s lows. DXY is now testing a key area of resistance around the 2017 swing-low, and the potential exists for a deeper move of USD-strength as we approach rate decisions out of Europe and Japan.


- The big question around the US Dollar is whether a short-term spate of strength might be able to turn into anything more. The down-trend in the Dollar is now more than a year-old, and there’s a case to be made for a short-squeeze scenario after the Greenback spent most of Q1 dwindling around three-year lows.


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