US Dollar Back to 2018 Highs as Equities Take a Bearish Turn

Talking Points:

– The Dow looks set to gap-lower this morning as US Dollar strength continues. The weekend-gap that we looked at yesterday in the Dow has now been filled, and we’re now testing an area of support that held-up the lows throughout last week.

– Elsewhere – support has not been so friendly. The Euro is digging deeper into the zone that helped to hold the lows for the latter-portion of last year, and GBP/USD has been in hard-sell mode as another disappointing release of UK inflation numbers make the prospect of tighter policy from the BoE even more distant.

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Do you want to see how retail traders are currently trading the US Dollar? Check out our IG Client Sentiment Indicator.

Dollar Rallies Back to Resistance

Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2018/05/23/us-dollar-back-to-highs-as-the-dow-takes-a-bearish-turn-srepstans.html