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Dollar Index Falls Back To Unchanged

USD
  • Despite the early broad based dollar strength on Wednesday, the greenback has turned around in most recent trade with the DXY falling back to unchanged on the session. G10 Ranges inevitably remain fairly tight as we approach year-end.
  • EURUSD bounces 25 pips from the lows back to the familiar 1.1300 mark and USDJPY despite testing back above 115 for the first time since November 26, retreats to 114.85.
  • The break of the 114.25 hurdle last week strengthened bullish technical conditions for USDJPY, signalling potential for a stronger rally. The Nov 24 High at 115.52 remains a key resistance and the bull trigger.
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