US Dollar Nearing a Bottom?
This multi-year chart shows the Dollar at long-term support.
It’s too early to conclude that the Dollar is bouncing. However, its resilience in light of a surprisingly weak GDP number today does indicate a lack of concerted selling. Assuming a bounce, the next critical question will be whether the Dollar forms a lower high.
We’ll be monitoring this currency closely over the next month or so, and it will have a dramatic impact on the sectors and stocks that we’ll be covering.
Have a good weekend.
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