Dollar Threatens Reversal, Pound Sports Rally, Euro Faces Volatility
Dailyfx | May 10, 2015 01:06AM ET
The Dollar and Pound are on the cusp of decisive trend developments, but their fundamental drive is not certain. Euro volatility, however, looks inevitable.
The US Dollar (Dow Jones FXCM Dollar Index) closed lower for the fourth consecutive week – the longest series of losses for the currency since last June before the currency’s epic bull run kicked off.
The British Pound thundered higher as a surprising UK General Election result removed a great deal of political uncertainty and encouraged traders to shed short positions.
The Australian dollar looks poised to continue its month-long recovery but a risk aversion outbreak remains a potent risk if Greece fails to secure a funding deal.
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