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By:

Ashraf Laidi

2009-03-07

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While the dollar is expected to accumulate further gains in Q3, these are likely to be sporadic and choppy at best. Such gains are seen more of a reflexive bouts emerging from extended pullbacks in global bourses, rather than a proactive strategies to build long term USD positions. $1.3750 vs EUR, $1.62 vs GBP remain key resistance levels for the US currency to breach. Meanwhile USDJPY upside faces more substantial pressure at 97.50-98.

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Content Provided by:

Ashraf Laidi
Ashraf Laidi is Chief Strategist of CMC Markets, founder of AshrafLaidi.com and author of the newly published "Currency Trading & Intermarket Analysis". At CMC Markets, he oversees the analysis and forecasting functions of key currency pairs as well as decisions and trends of the ...

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Forex

Indices

Commodities

Rates & Bonds

EUR/USD

1.3672

-0.0101

-0.733%

GBP/USD

1.5050

-0.0147

-0.964%

USD/JPY

90.49

-0.21

-0.231%

AUD/USD

0.9138

-0.0039

-0.425%

USD/CAD

1.0200

+0.0032

+0.320%

US Dollar Index

80.49

+0.70

+0.88%

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