Dollar tries to keep rally alive in a short market

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SYDNEY: The U.S. dollar was trying to keep a rare rally together on Monday as its longest losing streak in a decade left much of the market ...

SYDNEY: The U.S. dollar was trying to keep a rare rally together on Monday as its longest losing streak in a decade left much of the market structurally short of the currency and vulnerable to a squeeze on any upbeat news.

The euro held at US$1.773 on Monday, having hit a two-year high of US$1.1915 last week, which now acts as major resistance. Support comes in around US$1.1755 and US$1.1694. The dollar was a little steadier on the yen at 105.89 , well above the recent low of 104.17 but facing stiff resistance at 106.46.

 

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