US Dollar posts the lowest Weekly Close in 32 Months

Not much more needs to be said about the US Dollar than this headline. They managed to push it just barely above the support level ahead of the long holiday weekend but it certainly looks weak heading into next week. The problem is even though the “short Dollar” trade is crowded, there does not yet exist a fundamental reason to buy the Greenback.

That bodes poorly moving forward, oversold, crowded or extreme bearish sentiment notwithstanding.


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