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On days that equities move lower the dollar will find buyers, and therefore will offer the chance to buy intra-day dollar based trades, and vice versa. The month of May has shown that unless global stock markets move higher the dollar index will be supported, and although not a long-term play, the long side of the Usd is offering trades on weak equity days. That can be seen in the trend on the majors; there is no point trying to fight a market that buys dollars for safety, even though it is on light volume. However, Wall Street trade on Monday confirmed that there are plenty of determined Usd sellers when equity markets are getting bought.
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