Dollar tries to keep rally alive in a short market

  • 📰 Reuters
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

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.

FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo/File Photo

“Our positions have been concentrated in the EUR-bloc, reflecting also the structural improvement in the European policy framework following the agreement over the recovery fund.”on Monday, having hit a two-year high of $1.1915 last week, which now acts as major resistance. Support comes in around $1.1755 and $1.1694.

Against a basket of currencies, the dollar was a fraction firmer at 93.434=USD and just above a two-year trough., well above the recent low of 104.17 but facing stiff resistance at 106.46.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Oh

The apparent progress toward an economic recovery, thanks to better-than-expected JOBS data in the United States;Gold's safe-haven appeal has also been somewhat curbed by the strength of the DOLLAR

'Electric shock gives rotting corpse signs of life'

Annuit coeptis.

Dollars life is short lived

Spoiler: it won’t

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How swimwear cofounders turned $30,000 loan into million-dollar brand - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I'm guessing it was attractive models.
Source: BusinessInsider - 🏆 729. / 51 Read more »