Dollar strongest since 2003, but Yen pairs facing daily resistan
The U.S. Dollar shot to 2003 highs as investors continue to bet on inflation taking off followed by an interest rate hike.
Starting off with a few COT report positions, non-commercial longs increased across almost all pairs. The Great Britain Pound non-commercial short positions reduced by 9,532 contracts, Australian Dollar longs rose by 410 contracts, Canadian Dollar shorts dropped 2,713 contracts, and finally Euro shorts dropped 10,132 contracts.
Nevertheless, the Euro Zone and Asian currencies are at risk with Trump’s policy plans to essentially re-enact trade barriers and bring manufacturing back into U.S. borders in order to increase employment and market U.S. goods competitively.
Full Analysis @ ForexReloaded.com
Starting off with a few COT report positions, non-commercial longs increased across almost all pairs. The Great Britain Pound non-commercial short positions reduced by 9,532 contracts, Australian Dollar longs rose by 410 contracts, Canadian Dollar shorts dropped 2,713 contracts, and finally Euro shorts dropped 10,132 contracts.
Nevertheless, the Euro Zone and Asian currencies are at risk with Trump’s policy plans to essentially re-enact trade barriers and bring manufacturing back into U.S. borders in order to increase employment and market U.S. goods competitively.
Full Analysis @ ForexReloaded.com