The dollar fell after an unexpected drop in producer prices prompted some traders to scale back bets the Federal Reserve would raise its key interest rate to 2 percent by early next year. The U.S. currency rose in July on expectations higher interest rates would lure international investors to U.S. financial assets.
The rally from 1.7710 extends through key 1.7930 resistance and now looks for 1.8050 level. Could see gains capped here for now as overbought readings begin to emerge. Have shifted our Stop Loss to 1.7937 for a +100. Will update closing position.
The rally from 1.7710 extends through key 1.7930 resistance and now looks for 1.8050 level. Could see gains capped here for now as overbought readings begin to emerge. Have shifted our Stop Loss to 1.7937 for a +100. Will update closing position.
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