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Dollar tries to keep rally alive in a short market

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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.

 

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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

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