Dollar Bears Get a Close-Up View of Stiff Technical Barriers
- Greenback underpinned by confluence of important levels
- Treasury yields below 100-day average backs dollar’s decline
Pimco's Crescenzi Says Stalled-Out Dollar Is Good News
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The dollar index is nearing an inflection point. A set of key technical levels that has underpinned the greenback is within striking distance, which if breached could signal prolonged weakness.
The bullish turn of Treasuries and positioning in the currency options market could hasten the downfall of the gauge, which tracks the greenback against the euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona.