Top FX Headlines: It’s Still Too Early to Call a Bottom in the US Dollar

Commentary, News

After a promising close on Wednesday, the US Dollar is disappointing bottom pickers on Thursday with a weak performance thus far half way through the trading day.
A bullish daily key reversal in the DXY Index yesterday, coupled with the bullish morning doji star candle cluster between Monday and Wednesday, suggested that the greenback’s early-year losses may have run their course.
Evidently not. The US Dollar finds itself trading lower once again today, unable to generate the follow through necessary to declare that the bottoming process had truly begun. The seeds of a turnaround have been planted elsewhere, it should be noted.

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