Is the U.S. dollar still a target for the Fed?

Market Pulse: Jan. 4, 2011

Is the U.S. dollar still a target for the Fed?

The U.S. dollar opened the last week of 2010 at 80.985 and dropped to 79.288 on the last trading day of the year. Last year, on the close of the last trading week of 2009, the U.S. dollar was at 78.220. Through 2010 we saw the U.S. dollar hit a high the week of July 7 at 89.315 and a low at 77.081 the week of Nov. 1. Looking at the charts below you see the daily chart has technicals favoring the bears, which started six trading days ago.

image

Proceed to Page 2 for the latest COT data...

Comments
comments powered by Disqus