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Asian FX is showing some signs of.......>

DOLLAR-ASIA
DOLLAR-ASIA: Asian FX is showing some signs of potential against the dollar in
line with the slight strength in EM FX globally. After a ~6% decline in the ADXY
over the past four months, the index is deeply oversold and showing some signs
of bullish divergence. 
- The index remains on a steep downtrend but a break above 106.00, from 105.57
currently, would give bulls the ST edge and make s strong case for a bullish
reversal. 
- Fundamentally, the trend of real interest rates between Asia and the US does
not make a strong case for a bullish reversal. However, should central banks
begin to put their huge reserves to defend their currencies, this could provide
the impetus for a rally.

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