Forex | Forex Strategies | Greenback Turns Bullish (18/08/2009 02:03:18)

Greenback Turns Bullish

Greenback Turns Bullish The dollar and yen rose on Monday as risk aversion spiked and global stock markets plunged led by the largest drop in Chinese stocks since November 2008. The dollar index has been negatively correlated with risk appetite and surging equity and commodity markets. Stocks and commodities, currently overbought, are at strong resistances, while the dollar index has formed a bottom. We expect this correlation to continue; however, the dollar will likely appreciate with stocks


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