Intraday Market Thoughts at 10:40 ET

By Ashraf Laidi
03 July 2009 @ 11:31 am EDT

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.

International Business Times

E-Newsletters

We value your privacy. Your email address will not be shared.