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Friends,
Dollar index is a measure of the US currency against a basket of its peers.
It hit 103.82, the highest level since December 2002.
That's a 14 year high !!!!
Also, today's scheduled Fed minutes could throw light on the pace of interest-rate hikes.
I think outcome of minutes will consolidate hawkish tones in favor of USD.
So, It would be unwise to go against USD right now.
I have a USDZAR long at 13.63 - with TP at 13.86 target.
USD Index price action is shown below -
That's all for now.
Dollar index is a measure of the US currency against a basket of its peers.
It hit 103.82, the highest level since December 2002.
That's a 14 year high !!!!
Also, today's scheduled Fed minutes could throw light on the pace of interest-rate hikes.
I think outcome of minutes will consolidate hawkish tones in favor of USD.
So, It would be unwise to go against USD right now.
I have a USDZAR long at 13.63 - with TP at 13.86 target.
USD Index price action is shown below -
That's all for now.
